Prysmian Group has signed a definitive merger agreement to acquire US-based Atkore for €3.3bn, a move aimed at enhancing its position as a comprehensive provider of electrical solutions.
Valued at $95 per share in cash, the deal was unanimously approved by both companies’ boards and awaits Atkore shareholder and regulatory approvals. Completion is anticipated by the end of 2026.
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The acquisition enables Prysmian to expand its footprint in North America by integrating Atkore’s portfolio of electrical infrastructure products.
Prysmian aims to strengthen its market presence amidst increasing investment in electrification and AI-driven infrastructure.
The merger is expected to generate annual run-rate earnings before interest, taxes, depreciation and amortisation (EBITDA) synergies of approximately $150m within three years post-closure.
The newly combined entity will focus on quick delivery and installation processes while advancing research and development opportunities.
By combining resources, the reduced complexity and integrated offer are expected to speed up electrification and data centre deployments. Funding for the acquisition will be sourced through a mix of debt and equity.
Prysmian CEO Massimo Battaini said: “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 US.
“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.”
This acquisition follows Prysmian’s earlier integrations of companies such as General Cable and Encore Wire in the North American market.
The financial adviser for the transaction is Morgan Stanley & Co. International, with Wachtell, Lipton, Rosen & Katz serving as legal adviser.
In June 2026, Prysmian completed its cable installation contract for RWE’s 1.4GW Sofia offshore wind farm at Dogger Bank in the North Sea.
