Siemens buys Electrium to join electrical top three

Siemens is buying the British electrical installation equipment manufacturer Electrium, which owns the well-known brands Crabtree, Wylex and Volex. Siemens is buying the business for an undisclosed sum from Electrium`s managers and Lloyds TSB Development Capital, which each own half of the business.

Siemens says that the acquisition will make it one of the top three suppliers to the UK`s £650m electrical installation market. Electrium also has a strong export business to the near and Middle East. Siemens plans to keep the Electrium name and its brands, as well as its distribution channels. Electrium`s chief executive Christopher Thomas will continue to run the business.

Electrium employs about 700 people at four UK sites, including the headquarters at Cannock, West Midlands.