Ensto’s transaction to divest Ensto Building Systems to Legrand has been completed
Ensto’s transaction to divest Ensto Building Systems to Legrand has been completed. The transaction is part of Ensto’s renewed strategy to focus on the electricity distribution (DSO) business.
“We are extremely happy to announce that the transaction of Ensto Building Systems to Legrand has been completed, and we can now fully focus on becoming the leading expert for distribution system operators (DSOs) for selected segments on global markets. We are confident that having a more focused strategy, we are able to better serve our DSO customers with our expertise and solutions with sustainability and smart technologies at its core,” says Hannu Keinänen, President and CEO of Ensto Group.
The completion of the transaction was subject to customary conditions precedent.
“Our customers, partners and employees have been really excited about the next chapter in the Ensto Building Systems’ story. As the transaction is now completed, we can continue developing our offering and services across all our seven product areas even further together with Legrand and our dedicated team,” says Jukka Tiitu, President and Managing Director of Ensto Building Systems Oy.
After the transaction Ensto with its DSO business will operate in 17 countries, employ approximately 850 people, and have an estimated turnover of 140 M€ in 2021. Ensto Invest Oy continues to be the owner of Ensto Oy and is the Family Office of the Miettinen family.
About Ensto
For over 60 years, Ensto, a growth-oriented and international family business, has been dedicated to electricity with a long-term and human-centric approach. We offer smart and reliable electrical solutions and expertise for electricity distribution system operators and help them to succeed and create a more sustainable tomorrow.
Currently Ensto has a total of 850 employees in 17 countries in Europe and Asia. We are bound by our common purpose: making life better with electricity. Sustainably.
About Ensto Building Systems
Ensto Building Systems designs, manufactures and sells high quality electrification products and solutions in the Nordics and the selected product segments globally. It operates through seven product areas which are: Lighting, Industrial Electrification, Cable Management, Residential Electrification, Cabling Systems, Marine and Electric Vehicle Charging.
Ensto Building Systems is a technology company with Finnish origin and over 60-years of experience to make everyday living easy, safe and sustainable. Today Ensto Building Systems is a part of Legrand Group.
About Legrand
Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial, and residential markets makes it a benchmark for customers worldwide. The Group harnesses technological and societal trends with lasting impacts on buildings with the purpose of improving life by transforming the spaces where people live, work, and meet with electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable. Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing its strategy of profitable and sustainable growth driven by acquisitions and innovation, with a steady flow of new offerings—including Eliot* connected products with enhanced value in use. Legrand reported sales of €6.1 billion in 2020. The company is listed on Euronext Paris and is notably a component stock of the CAC 40 and CAC 40 ESG indexes. (code ISIN FR0010307819).