France’s Rexel Acquires Brazilian Electrical Supply Cos

French electrical equipment company Rexel has acquired two electrical material suppliers in Brazil in a bid to cement its presence in the country. Rexel acquired Delamano, a Sao Paulo-based company that posted EUR60m in sales last year, and Etil, also Sao-Paulo based and with EUR40m in sales in 2011. A Rexel spokesman declines to give a total figure for either acquisition, but says the company retained Ernst & Young Terco as a financial and tax advisor, and Pinheiro Neto Advogados as a legal advisor for the transactions. Delamano hired PwC as financial advisor as well as lawfirm Dessimoni & Blanco, while Etil used Grant Thornton for financial advisory and Nelson Wilians for legal counsel. Rexel estimates that the acquisitions turn it into a leading electrical material supplier in the Sao Paulo region.