Clearwater International advises Rexel on the sale of Haagtechno to Panasonic
Clearwater International has advised Rexel, a leading global distributor of electrical supplies, on the sale of its Dutch subsidiary, Haagtechno, to Panasonic, the worldwide leader in electronics.
Established in 1964 in, Haagtechno operates as the exclusive distributor of Panasonic and related consumer electronics products in the Netherlands that represent the brand. With a staff of 88 professionals, the company generated sales of approximately €150m in 2009.
Haagtechno has been the exclusive partner of Panasonic in the Netherlands for more than 45 years and became a subsidiary of Rexel following the acquisition of Hagemeyer in 2008. The acquisition of Haagtechno enables Panasonic to work directly with its Dutch business partners.
Headquartered in Paris, Rexel is a leading wholesale electrical distributor serving the industrial, commercial, and residential markets. With a workforce of 28,000 employees, the company reported net revenues of €11.3bn in 2009.
Panasonic is a leading worldwide developer and manufacturer of electronic products. Based in Osaka, Japan, the company recorded net sales of JPY 7.4tn for the year ended 31st of March 2010.