Hager Group signs an agreement to acquire Pmflex

This acquisition allows Hager Group to become one of the main European manufacturers of empty and pre-wired conduits for electrical installations. Pmflex was part of DBAG's Fund VII portfolio of companies. Both parties have agreed not to disclose financial details of the transaction. The transaction is subject to regulatory approvals and is expected to close in early 2023. Pmflex will remain a separate legal entity.

“This transaction is in line with the group's growth strategy and will strengthen our existing offer. Thanks to its strong position in the duct and tubing market for electrical installations for 60 years, Pmflex is complementary to our current activities in this field with Bocchiotti and Iboco”, said Daniel Hager, Chairman of the Management Board of Hager Group.

Pmflex is one of the main European manufacturers of sheaths and tubes for electrical installations. The company employs 150 people and achieved a turnover of more than 100 million euros in 2021. Pmflex products are marketed in more than 50 countries around the world.

The company operates from two production sites in Almenno San Bartolomeo, near Bergamo, in northern Italy. Founded in 1907, the company began as a family business and has grown to its current size through continuous and successful growth.

Gianluigi Rapizza, Pmflex Group CEO and Chairman of the Board, said: “Our mission has always been to innovate with passion to make installers' lives easier, faster and safer. We are also committed to protecting and caring for the environment with the aim of improving the world in which we live. Within Hager Group, we see a great opportunity to pursue this mission successfully. »

Jonas Olsson, Managing Director of Pmflex Group Northern Europe AB, also said: “This acquisition by Hager Group will allow us to continue to develop the presence and reputation of Pmflex in the Nordic countries. »

Today, Pmflex produces sheaths and tubes incorporating sustainable plastic materials, fully aligned with Hager Group's efforts to reduce emissions and reduce the carbon footprint of electrical installations.

These products are part of the systems used for routing cables (for example, between distribution boards, sockets and switches) but also for the distribution of energy through the floor to supply floor boxes (for example castings in concrete) in the residential and tertiary sectors.