Prysmian acquires Atkore, allowing the company to become a fully-fledged electrical solutions provider. The move expands Prysmian’s presence in North America by adding a highly complementary portfolio of cable-adjacent electrical infrastructure products.
Prysmian
Prysmian acquires Atkore
This combination brings together manufacturing excellence, engineering know-how and innovation that meets customers’ safety, quality, reliability and speed needs. Additionally, the integrated commercial offer enables quicker delivery times and installation processes. There will also be new R&D opportunities from combining cables with adjacent components to boost job-site productivity, enhance safety for installers and increase the reliability of electrical infrastructure.
Atkore is a US-based leader in electrical and infrastructure solutions, serving fast-growing verticals supported by long-term growth trends, including:
- Data centres.
- Commercial and industrial construction.
- Utilities.
- Specialities including renewables.
- Transportation.
The company provides cable-adjacent electrical conduits (steel, PVC and aluminium tubes that protect electrical cables), cable management systems (trays, ladders and baskets), armouring and framing, and plastic pipes and fittings.
“Electrification, AI-driven data centres and digitalisation all require major investments in infrastructure, and they are critical to the modern economy, and the opportunity is substantial in the United States,” said Massimo Battaini, CEO of Prysmian. “As a leading provider of energy and digital connections, our priority has been to find the right solution to enhance our outstanding growth and profitability by adding the right commercial platform and product portfolio to maximise our potential. Atkore offers an attractive combination of complementary products, structural growth exposure and meaningful synergy opportunities – and represents a major acceleration in Prysmian’s evolution into a fully-fledged electrical solutions provider. Prysmian’s excellent track record of investing in innovation for the benefit of our customers will ensure that we will be the right owner to realise the full potential of Atkore, and we look forward to welcoming their team into Prysmian as we continue to grow our North American electrical solutions portfolio.”
Michael V. Schrock, Atkore’s Chairman of the Board of Directors, added, “This transaction is the culmination of our comprehensive strategic review process to maximise shareholder value and reflects the strength of Atkore’s differentiated portfolio of critical electrical infrastructure products. Atkore and Prysmian are highly complementary organisations, and we believe this combination will create a stronger platform with greater scale and a more comprehensive portfolio of solutions to better serve customers. Reaching this milestone reflects the dedication and hard work of our employees, and we expect Atkore to benefit from additional opportunities as part of a larger global organisation. We look forward to completing this transaction and realising the benefits we expect it to bring to our stakeholders.”
