Schneider Electric Sells Mafelec Subsidiary to GET As Part of a Management Buyout
(Rueil-Malmaison, France – February 27, 2006) – Schneider Electric announced today that it has sold its Mafelec subsidiary to GET, a company formed as part of a management buyout. Mafelec is a specialty manufacturer of onboard push-button switches for railway, overland and maritime transportation applications. The sale, which is part of the company’s acquisition by its management (Gilles Heinrich and Eric Heitz), demonstrates Schneider Electric’s commitment to supporting the entrepreneurial spirit of its employees.
The transaction fits in with Schneider Electric’s ongoing strategy of focusing on core businesses where it enjoys critical mass.
For Mafelec managers, the acquisition represents an opportunity to grow a specialty business aligned with customer needs, backed by a recognized brand and well-established customer portfolio.
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