Why This Matters to Distributors: Prysmian’s acquisition of Atkore reflects a broader shift toward suppliers offering more complete electrical product portfolios. As spending on data centers, power infrastructure and electrification grows, distributors increasingly are looking for suppliers that can support larger, more complex projects with a broader range of products.
Prysmian has agreed to acquire Atkore Inc. for approximately $3.8 billion, expanding the world’s largest cable manufacturer into one of North America’s broadest suppliers of electrical infrastructure products and underscoring a growing push by manufacturers to offer distributors more complete project solutions.
Under the definitive agreement announced Monday, Prysmian will pay $95 per share in cash for Atkore, a 30% premium to Atkore’s July 31 closing price. The transaction, unanimously approved by both companies’ boards, is expected to close by the end of 2026, subject to shareholder approval, regulatory clearances and customary closing conditions.
The acquisition combines two major suppliers to the electrical industry as investment accelerates in power infrastructure, artificial intelligence data centers, manufacturing expansion and grid modernization—markets that increasingly drive demand for electrical distributors.
For distributors, the transaction is significant because it creates a supplier with roughly $26 billion in annual revenue and one of the industry’s broadest portfolios of electrical infrastructure products.
Milan-based Prysmian reported approximately €20 billion ($23.5 billion) in 2025 revenue. The company employs about 34,000 people, operates 109 manufacturing plants and 30 research and development centers in more than 50 countries, and is the world’s largest manufacturer of power and telecommunications cable. In recent years, Prysmian has expanded beyond cable into broader electrical connectivity and energy infrastructure markets.
Atkore, based in Harvey, Illinois, generated $2.9 billion in fiscal 2025 revenue and employs approximately 5,400 people. The company manufactures electrical conduit, cable management systems, fittings, strut, mechanical tubing and related infrastructure products sold primarily through electrical distributors serving commercial construction, industrial manufacturing, utilities, renewable energy and data center markets.
The deal substantially broadens Prysmian’s presence within the electrical distribution channel.
Electrical distributors increasingly are expected to supply complete project packages rather than individual product categories. Large construction projects, including data centers, manufacturing plants, hospitals and utility installations—require coordinated deliveries of cable, conduit, raceway systems, fittings, supports and related infrastructure products.
Before the acquisition, Prysmian primarily supplied wire and cable. Adding Atkore gives the company products that surround those cable installations, enabling it to compete for a much larger share of distributors’ purchasing budgets while offering contractors a more comprehensive electrical infrastructure package.
The transaction also reflects a broader competitive shift across industrial manufacturing.
Rather than competing in narrow product categories, suppliers increasingly are building broader product portfolios that allow distributors to buy more products from fewer manufacturers. That can simplify purchasing, improve product compatibility and strengthen support for increasingly complex projects.
In announcing the acquisition, Prysmian said the combination would create a “one-stop shop” for electrical infrastructure products in North America while strengthening its position in electrification, AI-driven data centers and digital infrastructure.
“The opportunity is substantial in the United States,” Prysmian Chief Executive Officer Massimo Battaini said. He described Atkore as a complementary business that accelerates Prysmian’s strategy of becoming a broader electrical solutions provider.
Atkore Chairman Michael Schrock said the agreement concludes the company’s strategic review process and positions the business for additional growth as part of a larger global organization.
The acquisition highlights where investment continues to concentrate across the electrical supply chain.
Utilities are upgrading aging transmission and distribution networks. Manufacturers continue investing in factory automation and domestic production. Data center developers are rapidly expanding capacity to support artificial intelligence workloads. Each trend requires significant volumes of cable, conduit and other electrical infrastructure products that move through distribution.
The deal also intensifies competition among suppliers seeking to become strategic partners to distributors. Companies including Hubbell, Eaton, ABB, Schneider Electric, Legrand and nVent have expanded their electrical portfolios in recent years. Prysmian’s acquisition of Atkore accelerates that trend by combining leading cable products with one of North America’s largest electrical raceway and infrastructure businesses.
For distributors, the transaction presents both opportunities and challenges. A broader supplier can simplify purchasing and provide deeper technical support, but continued supplier consolidation also could give manufacturers greater influence over pricing, purchasing programs and national account relationships. Distributors will be looking closely to see whether Prysmian maintains Atkore’s distributor-focused sales strategy and service model after the acquisition closes.
Separately, Atkore reported fiscal third-quarter results and canceled its previously scheduled Aug. 4 earnings conference call following the acquisition announcement. The company said it instead will discuss quarterly results during a conference call scheduled for Aug. 7, as required under the terms of its outstanding senior notes.
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