Wendel consortium to keep 75 percent of Legrand after purchase from Schneider

The Wendel consortium will keep 75 percent of Legrand, Limoges, France, after purchasing 98.1 percent of the company from Schneider Electric. The consortium, composed of Wendel Investissement, Paris, and private equity group KKR, New York, will sell off the remainder of Legrand's capital to WestLB, HSBC Private Equity, Goldman Sachs Capital Partners, the Verspieren and Decoster families and the founders of Legrand. Legrand's U.S. assets include Pass & Seymour, Syracuse, N.Y.; Wiremold, West Hartford, Conn.; and The Watt Stopper, Santa Clara, Calif.