Legrand Accelerates Data Center Expansion with Two New Acquisitions
Legrand announces the acquisition of Keydak, a Chinese leader in racks based in Guangzhou, and TES, a European specialist in power distribution systems. These two transactions bring the total number of acquisitions announced in 2026 to four, all focused on the data center sector.
The group, specializing in electrical and digital building infrastructures, continues its expansion into data centers through two complementary acquisitions. Keydak, located in Guangzhou, China, employs over 330 people and has an annual turnover exceeding 60 million euros. The company is recognized as a Chinese leader in the manufacturing of computer racks. TES, based in Cookstown, United Kingdom, has 280 employees and a turnover close to 85 million euros. More than half of its business comes from the data center sector, where it deals with power distribution systems. Together, these acquisitions represent an additional annual turnover of approximately 285 million euros.
Part of a Larger Acquisition Strategy in 2026
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These two transactions are part of a broader strategy of bolt-on acquisitions in 2026. Legrand has already announced four acquisitions this year, all aimed at the data center sector. This sector accounted for 26% of the group's revenue at the end of 2025. The two new targets cover distinct areas: computer chip surrounding infrastructure on one hand, and critical power supply solutions on the other. These operations contribute to the implementation of the group's 2030 roadmap.
Financial Performance and Upcoming Events
In 2025, Legrand achieved a turnover of 9.5 billion euros. The group will publish its first quarter 2026 results on May 7, followed by the annual general meeting of shareholders on May 27. The results for the first half of the year will be announced on July 29, 2026.
SectorMachines et équipements industriels›Équipements électroniques
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 5 400 millions d'euros
Quarterly revenue: 5 400 millions d'euros
Revenue growth: 13,1 %
EBITDA: 1 263 millions d'euros
EBITDA margin: 23,4 %
Net income: 698,2 millions d'euros
5 755 millions d'euros
Guidance from the release
Legrand enregistre un semestre solide avec à nouveau une croissance record de ses ventes de +17% hors change et toujours une excellente rentabilité ; Objectifs annuels 2026 relevés
Risks mentioned
Situation géopolitique et économique qualifiée de « très évolutive » par la direction
Effets de change négatifs, la croissance publiée étant inférieure à la croissance hors change
Dépendance croissante à la dynamique du marché des centres de données
Opportunities identified
Croissance record de +17 % hors change tirée par les centres de données
Sept acquisitions créatrices de valeur dans la transition énergétique et numérique
Nombreux lancements de produits nouveaux dans le cadre du plan stratégique
Outlook / guidance
Expected revenue: 11 140 millions d'euros
Management commentary: sales growth (excluding currency effects) of between +16% and +19% (vs. +10% and +15% previously), comprising organic growth of between +8% and +10% (vs. +4% and +7% previously), and growth through acquisitions of around +8% (vs. between +6% and +8% previously); ■ adjusted operating margin (after acquisitions) of between 20.5% and 21.0% of sales (unchanged)
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
