Legrand makes US acquisition, forms JV in Europe

Legrand has announced the acquisition of Lastar Inc, a US provider of preterminated solutions for VDI and A/V networks.

Lastar Inc’s preterminated solutions for copper and fibre-optic networks sold under brands like Quiktron and C2G are a suitable fit with Legrand’s US offering in structured VDI cabling, a market where the group already has a strong presence with its Ortronics brand, according to Legrand.

Integration of Lastar, a key supplier to US distributors specialised in VDI, IT and those present on the web, also strengthens Legrand’s commercial positions in the VDI and A/V markets in the US and in certain growing verticals such as data centres by developing its positions in these new distribution channels.

With facilities based primarily in the United States and in China, Lastar, which employs around 1000 people, has annual sales of around US$130 million (AU$45.2 million).

Separately, Legrand has also signed a joint venture agreement with Spain’s Neat, a major player of systems for the assisted living market Europe-wide. This market segment, says Legrand, holds promising long-term potential and will be underpinned by: rising demand from seniors, most of whom wish to live independently in their own homes, and public authorities supporting the principle in particular on economic grounds as senior citizens account for a fast-growing proportion of the population.

Neat offers an ideal complement to Legrand’s existing offer, which includes a range of solutions that promote quality of life for seniors living at home or in specialised institutions with dedicated products including easy-fit sockets, lighting paths to prevent falls, nurse calling systems or terminals for remote assistance. Based in Madrid, Neat has 90 employees and annual revenues of over €15 million (AU$22 million).