Prysmian – Prysmian completes Atkore acquisition to accelerate growth as an electrical solutions provider
Prysmian has completed the acquisition of Atkore, a leading U.S.-based provider of electrical infrastructure solutions.
In accordance with the terms of the merger agreement entered into by the parties on August 2, 2026, Prysmian acquired all outstanding shares of Atkore for $95 per share in cash, representing an implied enterprise value of approximately $3.8 billion (€3.3 billion).
The acquisition strengthens Prysmian’s U.S. leadership and broadens its range of electrical infrastructure solutions. It combines Prysmian’s unique service model in the electrification space, focused on product availability, fast delivery and vertical integration, with Atkore’s complementary portfolio of conduits, cable management systems and metal framing. Prysmian will now serve a greater share of customers’ needs in data centers, utilities and commercial and industrial infrastructure. The combination will also create opportunities to develop integrated solutions that improve job-site productivity, installer safety and infrastructure reliability.
The combined business has more than 60 manufacturing and distribution sites across the United States. This extensive local footprint and Atkore’s established distribution relationships strengthen Prysmian’s ability to serve customers with locally produced solutions and responsive delivery.
Massimo Battaini, Prysmian CEO, said: “The acquisition of Atkore marks another significant step in our evolution from a cable manufacturer to a broader, fully-fledged solutions provider. Atkore will broaden our U.S. leadership and combine complementary products with our unique service model to help customers deliver their projects faster and more efficiently, including rapidly expanding data center construction. Together, we are excellently placed to capture the growing demand from electrification and digital infrastructure. I am delighted to welcome our new Atkore colleagues to Prysmian. We will create long-term value for our customers, shareholders, and society.״
The integration will build on Prysmian’s successful track record with General Cable, Encore Wire and Channell, bringing together complementary expertise, strengthening customer relationships and creating shareholder value.
As announced at signing, Prysmian expects approximately $150 million in annual run-rate pretax synergies within three years of closing. The acquisition is expected to deliver high single digit earnings per share accretion in the first full year following closing, before synergies, increasing to double digits once run-rate synergies are achieved.
Atkore will be fully consolidated into Prysmian’s financial results starting from November 2026.
Following completion, Atkore is a wholly owned subsidiary of Prysmian, and its shares will no longer be traded on the New York Stock Exchange.
SourcePrysmian
EMR Analysis
More information on Prysmian: See the full profile on EMR Executive Services
More information on Massimo Battaini (Group Chief Executive Officer and General Manager, Prysmian Group): See the full profile on EMR Executive Services
More information on Pier Francesco Facchini (Chief Financial Officer and Executive Director, Finance, Administration, Control and IT, Prysmian till end of 2026): See the full profile on EMR Executive Services
More information on Anna Tanganelli (Chief Financial & Information Technology Officer, Iveco Group till November 2, 2026 + Chief Financial Officer and Executive Director, Finance, Administration, Control and IT, Prysmian as from November 2, 2026 + Member of the Board of Directors, GVS SpA): See the full profile on EMR Executive Services
More information on Maria Cristina Bifulco (Chief Strategy, M&A, Investor Relations & Communication Officer, Prysmian Group): See the full profile on EMR Executive Services
More information on Atkore by Prysmian: See the full profile on EMR Executive Services
More information on Brian Moriarty (Senior Vice President, Industrial and Construction, Prysmian North America, Prysmian + President, Atkore, Prysmian): See the full profile on EMR Executive Services
More information on Bill Waltz (Strategic Advisor, Atkore, Prysmian): See the full profile on EMR Executive Services
More information on John Deitzer (Vice President, Chief Financial Officer, Atkore, Prysmian): See the full profile on EMR Executive Services
More information on General Cable by Prysmian: See the full profile on EMR Executive Services
More information on Encore Wire by Prysmian: See the full profile on EMR Executive Services
More information on Daniel L. Jones (Chief Executive Officer, Encore Wire, Prysmian): See the full profile on EMR Executive Services
More information on Channell Commercial Corporation by Prysmian: See the full profile on EMR Executive Services
More information on William H. Channell Jr (Chief Executive Officer, Channell, Prysmian): See the full profile on EMR Executive Services
EMR Additional Notes:
- Power Utility – Utilities:
- A power utility, also known as an electric utility, is an organization responsible for providing electricity-related services through one or more activities in the electricity supply chain. These activities may include electricity generation, transmission, distribution and retail supply to residential, commercial and industrial customers. The scope of a utility’s responsibilities depends on the structure of the electricity market and the applicable regulatory framework.
- In vertically integrated electricity markets, a single utility may perform several or all of these functions. In liberalized or unbundled markets, they are often carried out by separate organizations, such as generation companies, transmission system operators (TSOs), distribution system operators (DSOs) and electricity retailers. Transmission and distribution networks are generally regulated because they exhibit natural-monopoly characteristics, while electricity generation and retail supply may be open to competition.
- Power utilities and other electricity-sector organizations play an essential role in maintaining a reliable electricity supply. Their responsibilities may include operating generation facilities or networks, maintaining infrastructure, managing capacity and supporting system reliability. Depending on the market structure, responsibility for grid stability, balancing and continuity of supply may be shared among utilities, system operators, regulators and other market participants. Electricity supply cannot be guaranteed without interruption, as outages and system disturbances can occur.