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Pirelli Cables changes ownership and announces new name

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Pirelli has transferred ownership of its cables business to Goldman Sachs Capital Partners and will now be called Prysmian Cables & Systems.

Commenting on the move, Massimo Battaini, UK CEO of Prysmian, said: “Prysmian will remain at the forefront of the market, with its range of both ‘standard’ and ‘enhanced’ fire performance cables and accessories to suit specific user requirements. The company is dedicated to developing the next generation of products and systems to follow on from the FP Firefix cable installation system, which has already helped to revolutionise the electrical contracting sector.”

Goldman Sachs, which has a long history of investing in blue-chip organisations and market leaders, is fully supportive of the existing management team and is committed to developing the business.

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