August 4, 2026 12:39

Italian cable supplier Prysmian has entered into a definitive agreement to acquire US-based Atkore at an enterprise value of approximately €3.3 billion.

Atkore manufactures steel, PVC and aluminium electrical conduits; cable management systems, including trays and ladders; framing and support structures; and plastic pipes and fittings.

The company operates around 30 manufacturing and distribution sites, employs 5,400 people and reported revenues of $2.85 billion in fiscal year 2025.

Prysmian said in a statement that the transaction would strengthen its position as a one-stop shop in North America by expanding its portfolio of cable-adjacent electrical infrastructure products and accelerating its shift towards an integrated electrical infrastructure solutions model.

Prysmian aims to combine cables, conduits and cable management systems to reduce delivery and installation times for electrification and data centre construction projects.

Prysmian estimates annual run-rate EBITDA synergies of approximately $150 million within three years of closing the acquisition.
Based on pro forma 2025 figures, the combined group would have generated revenues of approximately €22.1 billion and adjusted EBITDA of €2.7 billion.

The acquisition, an all-cash transaction for Atkore shareholders, will be funded through debt, hybrid instruments and equity. It follows Prysmian’s previous North American acquisitions of General Cable, Encore Wire and Channell.

The transaction is expected to close by the end of 2026, subject to approval by Atkore shareholders, regulatory clearances and other customary closing conditions.

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