Würth Electrical Wholesale Group expands into Northern Italy via strategic partnership with MEB
The Würth Electrical Wholesale Group (W.EG) expanded its presence in Italia by agreeing a strategic partnership with MEB s.r.l., a leading electrical wholesaler in Italy headquartered in Schio, Veneto. The partnership is based on W.EG acquiring a majority interest in MEB s.r.l. The key element of this partnership is the continuation of the current board members and management team in their respective functions. The proposed transaction is subject to agreement of the antitrust authorities.
In February 2015, Würth Electrical Wholesale Group entered the Italian market with the formation of a strategic cooperation with MEF s.r.l, headquartered in Florence. Encouraged by the successful development of this cooperation, both partners are very happy to welcome the management team and all employees of MEB s.r.l.
Ulrich Liedtke, Executive Vice President of W.EG and responsible for the business in seven European countries explains: “Based on the strong appreciation of local entrepreneurship, Würth Electrical Wholesale Group is comprised of companies which are leading regional or national players. The individuality of MEB s.r.l. and MEF s.r.l. is underlined by the fact that each of these companies operates under its individual brand. These companies benefit from their ability to draw on central resources and join hands for projects wherever that promises to be advantageous. Hence, we are confident that MEB s.r.l will gain access to an environment in which all its existing strengths can be further developed and additional support is available if needed.”
About MEB s.r.l.
MEB s.r.l was founded in Schio, Veneto in 1992 and achieved revenues of EUR 107 million in 2017. It employs more than 250 individuals and operates out of 24 outlets. The product spectrum consists mainly of lighting, building automation, low voltage power distribution and controls, renewable energy, cables and a broad portfolio of industrial automation products. The product offering is complemented by excellent customer support and other services. MEB s.r.l is a highly respected and leading company in its markets. MEB s.r.l. serves more than 13,000 active customers with electrical installers representing the biggest group.
About Würth Electrical Wholesale Group
Würth Electrical Wholesale Group, a subsidiary of the Würth Group, is a leading electrical wholesaler concentrating on the continental European market. In 2017, the electrical wholesale business had revenues of approximately EUR 1.5 billion, achieving 8.5% sales growth vs. the previous year. This sales volume accounts for approx. 12 % of total sales of the Würth Group.
