Legrand recently announced it has signed a definitive agreement to acquire Lastar Inc., including the company’s Quiktron and C2G divisions. Legrand said the transaction is subject to the completion of conditions for closing, which it expects to take place within a 30- to 60-day timeframe. Financial terms of the agreement were not disclosed. Lastar had global revenues exceeding $135 million in 2013 and employs slightly less than 1,000 employees, the company said.
“Quiktron, based in Albia, IA, is a leading manufacturer of copper and fiber-optic cable assemblies for the data communications distribution channel,” Legrand said in its announcement of the acquisition agreement. “C2G, based in Moraine, OH, is a recognized leader of cabling and connectivity products for the A/V and IT industries … Legrand’s acquisition of Lastar and its Quiktron and C2G brands would strengthen Legrand’s position and capabilities in the data communications and A/V channels while simultaneously providing Legrand access to new customer segments.”
“We are focused on providing a more integrated infrastructure solution including cable assemblies, connectivity, cabinets, racks, cable tray and cable management solutions that will help address our customers’ requirements for next-generation data communications demands,” said John Selldorff, president and chief executive officer of Legrand North America. “The acquisition of these leading organizations underscores Legrand’s commitment to strategic growth in the data communications and A/V channels.”
Legrand further explained, “New breeds of digital applications and an increasing demand for streaming content at home and at work have driven rapid growth in the data center and the continued buildout of higher-bandwidth communication infrastructures. Given the industry trend toward preterminated cable assemblies, Legrand would now offer its customers a broader array of custom and preterminated copper and fiber cable assemblies that are designed for flexibility and efficient installation.
“The addition of Quiktron to Legrand’s existing data communications product and service capabilities would provide customers a more complete and fully integrated end-to-end solution. Additionally, customers would find increased flexibility in design, installation and support services from one streamlined source. In joining Legrand, C2G would gain access to Legrand’s global resources and capabilities in the acceleration of innovation, expansion of services, and the addition of select data communications and A/V products, over time, that are currently not available in their product catalog.”
Lastar’s president and chief executive officer Bill Diederich said, “Lastar’s customers would undoubtedly benefit from the increased access to a diverse range of products and the complete turnkey suite of solutions that Legrand would offer. Upon formal completion, the acquisition would create new growth potential for all parties involved as the data communications, A/V and IT landscapes continue to evolve.”
Mike Shane, co-founder and chairman of Lastar, added, “Lastar values providing customers an effortless experience, innovation in products and services, and caring for and communicating openly with its associates. We are happy to find new owners 30 years after founding the company, who share those values and who will give our team the opportunity to take Lastar’s achievements to the next level backed by the strength of a vibrant global economy.”