Prysmian announces $3.8bn acquisition of Atkore

Srivani Venna

Tue, August 4, 2026 astatine 3:46 AM CDT 2 min read

Prysmian Group has signed a definitive merger statement to get US-based Atkore for €3.3bn, a determination aimed astatine enhancing its presumption arsenic a broad supplier of electrical solutions.

Valued astatine $95 per stock successful cash, the woody was unanimously approved by some companies' boards and awaits Atkore shareholder and regulatory approvals. Completion is anticipated by the extremity of 2026.

The acquisition enables Prysmian to grow its footprint successful North America by integrating Atkore's portfolio of electrical infrastructure products.

Prysmian aims to fortify its marketplace beingness amidst expanding concern successful electrification and AI-driven infrastructure.

The merger is expected to make yearly run-rate net earlier interest, taxes, depreciation and amortisation (EBITDA) synergies of astir $150m wrong 3 years post-closure.

The recently combined entity volition absorption connected speedy transportation and installation processes portion advancing probe and improvement opportunities.

By combining resources, the reduced complexity and integrated connection are expected to velocity up electrification and information centre deployments. Funding for the acquisition volition beryllium sourced done a premix of indebtedness and equity.

Prysmian CEO Massimo Battaini said: "Electrification, AI-driven information centres and digitalisation each necessitate large investments successful infrastructure, and they are captious to the modern economy, and the accidental is important successful the US.

"As a starring supplier of vigor and integer connections, our precedence has been to find the close solution to heighten our outstanding maturation and profitability by adding the close commercialized level and merchandise portfolio to maximise our potential."

This acquisition follows Prysmian's earlier integrations of companies specified arsenic General Cable and Encore Wire successful the North American market.

The fiscal advisor for the transaction is Morgan Stanley & Co. International, with Wachtell, Lipton, Rosen & Katz serving arsenic ineligible adviser.

In June 2026, Prysmian completed its cablegram installation declaration for RWE's 1.4GW Sofia offshore upwind workplace astatine Dogger Bank successful the North Sea.