Prysmian closes $3.8B Atkore deal to become electrical solutions provider
What's the deal? PrysmianDealroom has a profile for this one. Try Dealroom → has completed its $3.8 billion all-cash acquisition of Atkore, a US-based maker of electrical infrastructure products. The deal, which closed on October 19, paid Atkore shareholders $95 per share. Atkore is now a wholly owned subsidiary and its shares no longer trade on the New York Stock ExchangeDealroom has a profile for this one. Try Dealroom →.
What's the endgame? The acquisition extends Prysmian's shift from cable manufacturer to broader supplier. Atkore's conduits, cable-management systems and metal framing complement Prysmian's US cable business, letting it serve more of customers' needs across data centers, utilities, and commercial and industrial infrastructure.
Why now? Demand for electrical equipment is climbing as data-center construction accelerates. CBREDealroom has a profile for this one. Try Dealroom → reported North American data-center supply rose 33.7% year over year in the first half of 2026, while power availability and infrastructure delivery remain key constraints.
Chief executive officer Massimo Battaini called the deal "another significant step in our evolution from a cable manufacturer to a broader, fully-fledged solutions provider." He said the combined company is positioned "to capture the growing demand from electrification and digital infrastructure."
The combined business runs more than 60 manufacturing and distribution sites across the US. Prysmian expects roughly $150 million in annual run-rate pretax synergies within three years, plus high-single-digit earnings per share accretion in the first full year before synergies, rising to double digits once synergies land.
What could go wrong? The focus now shifts from closing to execution. Integrating the two businesses and delivering the promised synergies will determine whether the broader offering drives durable growth.
The signal: The deal continues Prysmian's US buying spree, which includes General CableDealroom has a profile for this one. Try Dealroom → and Encore WireDealroom has a profile for this one. Try Dealroom →, and reflects a push to build one-stop suppliers for the electrification and data-center boom.
Read more: prysmian.com
