Rexel Completes Acquisition of GE Supply

The Rexel Group has completed its acquisition of GE Supply, the electrical distribution business of GE Consumer & Industrial. The purchase agreement was signed on July 10.

The total consideration for the transaction, valued at $725 million, was financed through specific loans underwritten by JPMorgan and Calyon. JPMorgan also acted as exclusive financial advisor to Rexel in connection with the transaction.

The acquisition is expected to almost double Rexel’s U.S. sales. Rexel Inc., the North American subsidiary of Rexel SA, posted $2.5 billion in sales in 2005.