Atkore Set for $3.8B Prysmian Deal as Data-Center Push Takes Shape

Prysmian said its planned acquisition of Atkore (NYSE:ATKR) would grow its U.S. electrification portfolio beyond cables into installation components, positioning the combined institution arsenic a one-stop supplier for distributors, engineering firms and data-center customers.

Speaking connected a league call, Prysmian CEO Massimo Battaini said the transaction builds connected the company's 2024 acquisition of Encore Wire and is intended to fortify its beingness successful the U.S. electrification market. Atkore's portfolio includes alloy conduits, pipes, electrical fittings, metallic framing, cablegram trays and ligament baskets utilized to instal and negociate cables successful residential, non-residential, concern and data-center applications.

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"When you merchantability the cables positive components, you heighten your chances to triumph the bid," Battaini said. "You go stronger, you merchantability much than individually due to the fact that it is really a package."

Transaction Value and Synergy Targets

Prysmian enactment the endeavor worth of the acquisition astatine $3.8 billion, oregon $95 per stock positive debt. Based connected Atkore's 2025 results, the institution said the transaction implies a 9.8-times EBITDA multiple, declining to 7.1 times aft expected synergies.

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Atkore generated $2.8 cardinal successful gross successful 2025, with EBITDA of $306 cardinal and an EBITDA borderline of 14%, according to Prysmian. The institution operates 30 factories and has planetary operations accounting for astir 15% to 16% of revenue, including locations successful Canada, Australia and New Zealand, the United Kingdom, Europe and South America.

Prysmian is targeting $150 cardinal successful yearly synergies by the extremity of 2029. Management said astir $100 cardinal of that people would travel from commercialized opportunities, portion astir $50 cardinal would beryllium derived from operational efficiencies, including procurement, organizational changes and manufacturing optimization.