Italian cable and energy-infrastructure company Prysmian has agreed to acquire Atkore in a major deal that would significantly expand the company’s presence in the U.S. The deal could strengthen Prysmian’s position in electrical products, construction systems, industrial infrastructure and demand related to data centres.

The acquisition of Prysmian Atkore, if completed, would combine two large manufacturers serving utilities, contractors, commercial construction projects and industrial customers. The official purchase price, payment structure, closing conditions and expected completion date are yet to be confirmed.

Prysmian Eyes Bigger US Presence

The deal would give Prysmian a much bigger manufacturing and distribution footprint across North America.

Prysmian is already a big global producer of cables for energy and telecom. The inclusion of Atkore’s factories, brands and customer relationships would give the company the ability to sell a broader range of electrical infrastructure products through one combined network.

The transaction could also reduce Prysmian’s reliance on some product categories or geographic areas.

Atkore’s Robust Electrical Product Portfolio

Atkore manufactures products that protect and control electrical wiring and communication systems.

Its portfolio includes conduit, cable management systems, metal framing, fittings and other products used in commercial buildings, industrial sites, power projects and data centres. Such companies could be an attractive fit for Prysmian’s cable and connectivity business.

The broader product range would allow the combined company to bid for larger contracts and supply more parts to a single project.

Data Centre Growth May Help the Deal

The reported acquisition could be driven by the demand from artificial intelligence and cloud computing infrastructure.

New data centres need a lot of power cables, conduit and electrical protection and connection equipment. Manufacturers that serve tech companies investing in new facilities and grid connections may benefit.

The combined group could be placed to supply a number of levels of a data centre’s electrical infrastructure.

US Manufacturing Gains Importance

The deal would also boost Prysmian’s exposure to domestic U.S. manufacturing.

Customers and governments are showing more interest in supply chains that are regional, in investment in infrastructure and in parts made locally. Prysmian said Atkore’s US facilities could help it meet demand while removing some shipping and import related risks.

Local production can be a special boon for projects with government funding or domestic content requirements.

Deal May Result in Cost Savings

Prysmian said it expected the acquisition to provide operational and financial benefits.

Potential savings could be achieved through joint buying, joint logistics, reduced administrative costs and better factory utilisation. They may also generate additional revenue by cross-selling each other’s products to their existing customers.

But expected synergies can take time to achieve, and often require significant integration spend.

Sources

• Prysmian Investor Relations – Official news on acquisitions, funding and strategic direction.
• Atkore Investor Relations – Board statements, shareholder information and transaction documents.
• US Securities and Exchange Commission – Filings and merger disclosures.
• Federal Trade Commission – Competition review information, if applicable.
• US Department of Justice Antitrust Division – Merger and market competition supervision.
• Reuters and Bloomberg – Industrial market analysis and corporate transaction reporting