The €3.3bn acquisition at $95 per share aims to bolster Prysmian’s North American electrical infrastructure presence and drive $150m in annual EBITDA synergies.
Prysmian Group will acquire US-based Atkore for $3.8bn, or €3.3bn, in an all-cash transaction priced at $95 per share. The deal, unanimously approved by both boards, requires shareholder and regulatory approvals and is expected to close by the end of 2026.
The acquisition targets annual run-rate EBITDA synergies of $150m within three years post-closure. Prysmian aims to expand its North American footprint by integrating Atkore’s electrical infrastructure products, aligning with rising demand for electrification and AI-driven data centres.
Funding will come from a mix of debt and equity. The combined entity plans to accelerate delivery and installation processes while advancing research and development to support infrastructure growth.