Italy-based wire and cable manufacturer Prysmian has agreed to acquire Atkore in an all-cash transaction carrying an enterprise value of approximately $3.8 billion.

Under the definitive merger agreement announced Aug. 3, Atkore shareholders will receive $95 per share. The price represents a 30% premium to Atkore’s July 31 closing price and a 57% premium to its closing price immediately before the company launched a strategic review in September 2025.

The companies expect to close the transaction by the end of 2026, subject to approval from a majority of Atkore shareholders, regulatory clearances and other customary conditions. Both companies’ boards unanimously approved the deal.

Prysmian said Harvey, IL-based Atkore’s cable-adjacent product portfolio will expand its North American presence and accelerate its shift from a cable manufacturer into a broader electrical solutions provider. Atkore manufactures steel, PVC and aluminum conduit, cable trays and other cable management systems, armoring, framing, plastic pipe and fittings.

Atkore serves data centers, commercial and industrial construction, utilities, renewable energy and transportation markets. The company generated $2.85 billion in fiscal 2025 revenue and $386 million in EBITDA, with approximately 5,400 employees and about 30 major manufacturing and distribution facilities, primarily in North America.

Prysmian expects the combination to generate approximately $150 million in annual run-rate EBITDA synergies within three years after closing. Based on fiscal 2025 results, the combined company would have generated approximately $25.4 billion in revenue and $3.1 billion in adjusted EBITDA.

CEO Massimo Battaini said the deal gives Prysmian complementary products and a larger commercial platform to capitalize on investment in electrification, AI-driven data centers and digital infrastructure. The acquisition will be funded through a mix of debt, hybrid bonds and equity.

The agreement culminates Atkore’s strategic alternatives review, which it expanded in November 2025 to consider a sale or merger of the entire company. During the process, Atkore divested noncore businesses and consolidated manufacturing operations to focus on electrical infrastructure.

For Prysmian, the deal continues a North American expansion that included its 2024 acquisition of Encore Wire and 2025 purchase of telecommunications infrastructure manufacturer Channell.

MDM Analysis

The combination could give electrical distributors a more integrated source for cable, conduit, cable management and related infrastructure products — particularly on complex data center and electrification projects. That breadth may support bundled bids, coordinated availability and faster installation, but it also concentrates additional product influence with one large supplier.

Distributors should closely watch integration plans involving pricing, rebates, sales territories, stocking programs and potential product or facility rationalization. The near-term channel impact should be limited before closing, but line-card overlap and account-level changes could become important once Prysmian begins combining the businesses.