One of Rexel’s equity owners could buy larger stake

Industrial Distribution staff -- Industrial Distribution, 3/28/2008 5:46:00 AM

One of the three private equity players that together own nearly three-quarters of French electrical distributor Rexel said it would be interested in buying a larger stake in the company, the Reuters news service reported.

Eurazeo CEO Patrick Sayer said the firm would increase its holding in Rexel if one of its other shareholders, which include private equity players Clayton, Dubilier & Rice and Merrill Lynch Global Private Equity, wanted to sell.

Together, the three equity companies own 73.74 percent of Rexel.

"If one of them wished to get out for their own reasons, we would of course be buyers," Sayer told a press conference, the news service reported.

Rexel, which is close to completing its $4.77 billion buyout of Dutch rival Hagemeyer, ranked second on INDUSTRIAL DISTRIBUTION’s 2007 Top 10 Electrical Distributors List, with 2006 sales of $12.3 billion.

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