In one of the largest electrical manufacturers’ acquisitions in years, Prysmian S.p.A. is buying Atkore Inc. in an all-cash transaction representing an enterprise value of approximately $3.8 billion.

It’s a deal certain to send shockwaves through the electrical market because of its impact on the many independent manufacturers’ reps handling both companies product lines, as well as those companies repping competing product lines.

According to the press release, under the terms of the agreement, at the closing of the transaction, Atkore shareholders will receive $9 per share in cash for each share of Atkore common stock. The per share purchase price represents a premium of approximately 30% to Atkore’s closing share price of $72.96 on July 31, 2026, and approximately 57% to Atkore’s closing share price of $60.69 on September 29, 2025, the last trading day before Atkore announced its initial strategic review.

“This transaction is the culmination of our comprehensive strategic review process to maximize shareholder value and reflects the strength of Atkore’s differentiated portfolio of critical electrical infrastructure products,” said Michael V. Schrock, chairman of Atkore’s board of directors, in the press release. "Atkore and Prysmian are highly complementary organizations, and we believe this combination will create a stronger platform with greater scale and a more comprehensive portfolio of solutions to better serve customers."

"Electrification, AI-driven data centers and digitalization all require major investments in infrastructure, and they are critical to the modern economy, and the opportunity is substantial in the United States," said Massimo Battaini, Prysmian CEO, in the release. "As a leading provider of energy and digital connections, our priority has been to find the right solution to enhance our growth and profitability by adding the right commercial platform and product portfolio to maximize our potential.

“Atkore offers an attractive combination of complementary products, structural growth exposure and meaningful synergy opportunities – and represents a major acceleration in Prysmian’s evolution into a fully-fledged electrical solutions provider. Prysmian’s excellent track record of investing in innovation for the benefit of our customers will ensure that we will be the right owner to realize the full potential of Atkore, and we look forward to welcoming their team into Prysmian as we continue to grow our North American electrical solutions portfolio."

Strategic Rationale

Prysmian and Atkore said in the press release that their combined solutions will “create a one-stop shop in North America that will simplify and accelerate electrification and data center roll-out for customers.”

“The transaction will expand Prysmian’s product and service offering in North America and broaden its portfolio with complementary electrical infrastructure products,” the press release said. “In addition, it will further enhance Prysmian’s exposure to long-term structural growth trends in electrification and data center investment. The combination will create a leading integrated electrical infrastructure solutions provider, enabling Prysmian to serve its customers more comprehensively through complementary products, an expanded commercial offering and deeper customer relationships.”

Citi is serving as lead financial advisor to Atkore, Debevoise & Plimpton LLP is serving as legal advisor and Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor. J.P. Morgan Securities LLC is also serving as financial advisor to Atkore.

Prysmian is a provider of solutions for energy and digital connections, delivering major electrical transmission projects on land and at sea, modernizing power grids and unlocking renewable energy, electrification, and digital connectivity worldwide. The company has 34,000 employees, 109 production facilities and 30 R&D centers in over 50 countries. Prysmian is a public company, listed on the Italian stock exchange, and recorded 2025 revenues of approximately $23 billion.

Atkore manufactures electrical products for commercial, industrial, data center, and solar applications. It has 5,400 employees and $2.9 billion in sales in fiscal year 2025