Italy’s Prysmian to Buy Encore Wire in $4.2B Deal - Modern Distribution Management

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Italy’s Prysmian to Buy Encore Wire in $4.2B Deal

The addition of Texas-based wire and cable maker Encore Wire will enhance Prysmian's North American presence and product portfolio.
MDM-Prysmian Encore

Major cable manufacturer Prysmian will grow its North American presence with the acquisition of Encore Wire, a well-known U.S. wire and cable maker that sells through distribution, in a $4.2 billion deal. 

The combination of Prysmian and Texas-based Encore Wire’s product offerings and customer relationships will enhance the company’s portfolio and geographic mix, Prysmian officials said in an April 15 news release.

Encore Wire — a manufacturer of a range of copper and aluminum electrical wire and cables, supplying power generation and distribution solutions — will complement Prysmian’s strategy to “increase exposure to secular growth drivers,” enhance its presence in North America, leverage Encore Wire’s operational efficiency, broaden Prysmian’s product offerings and generate about $148.7 million in run-rate EBITDA synergies expected within four years from closing, Prysmian officials said.

Source: Prysmian

“We are pleased to have reached an agreement that reflects the remarkable value Encore Wire has created with our expansive single-campus model, low-cost production, centralized distribution and product innovation,” Encore Wire’s Chairman, President and CEO Daniel Jones said.

In fiscal year 2023, Encore Wire’s revenue was about $2.6 billion with EBITDA of $517 million.

Following transaction close, Prysmian expects to maintain a significant presence at Encore Wire’s vertically-integrated, single-site campus in McKinney, TX.

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