PARIS: Legrand SA has acquired a controlling interest in Cogelec, a French access control systems specialist, through the purchase of Cogelec Développement, the companies announced Wednesday.
The deal, finalized Oct. 7, 2025, gives Legrand indirect ownership of 60.09% of Cogelec’s share capital and 75.07% of its voting rights. The acquisition was made at €29 per share, following a July 31 agreement between Legrand France, Cogelec’s management, and investor Raise Investissement.
Legrand France intends to launch a mandatory simplified tender offer to acquire the remaining Cogelec shares at the same price. If ownership thresholds are met, the company will pursue a squeeze-out procedure to fully integrate Cogelec under French securities law.
Governance changes at Cogelec reflect the new ownership structure. Four Legrand representatives—Emmanuelle Levine, David Descamps, Yriex Roullac, and Franck Lemery—have joined the board. They will serve alongside three historical directors, including Chairman and CEO Roger Leclerc, who will remain in his role until a new CEO is appointed by year-end. Leclerc will continue as board chairman until June 30, 2026.
Founded in 2007, Cogelec is known for its Intratone brand, a wireless interphone solution offered via subscription. The company operates in six European countries and serves over 2.6 million dwellings.
Legrand, a global leader in electrical and digital building infrastructure, reported €8.6 billion in sales in 2024. It is listed on Euronext Paris and is part of the CAC 40 index.