- RS Group announced that it has entered into an agreement to acquire Distrelec B.V., a Dutch distributor of electrical equipment for professional installers, for €365 million on a debt and cash free basis.
Distrelec serves approximately 180,000 customers in 19 countries . Approximately two-thirds of its revenues are generated through its online sales channels.
For its fiscal year ended December 31, 2022, the Dutch distributor generated revenues of €270 million and EBIT of €34 million.
The acquisition of Distrelec aims to strengthen RS’ presence in continental Europe. It is expected to increase the UK industrial products distributor’s sales by 40% in the region of Germany, Austria and Switzerland and by approximately 80% in Scandinavia.
The transaction is expected to close within two to three months, subject to customary closing conditions, including regulatory approval in Germany, Austria and Italy.
