Mattr Acquires AmerCable in $280 Million Deal to Bolster U.S. Cable Market Presence

Mattr Corp., listed on the Toronto Stock Exchange, has announced the acquisition of AmerCable Incorporated, a leading U.S. manufacturer of advanced wire and cable solutions, from Nexans USA Inc. for US$280 million. The acquisition is strategic for Mattr, significantly enhancing its market presence and capabilities in the growing U.S. electrification market. The transaction, valued at a multiple of approximately 5.0 times AmerCable's Adjusted EBITDA, positions Mattr's Connection Technologies as a major player in North America, expected to add significant value and boost to its revenue and earnings per share. The deal is pending regulatory approval and is expected to close by the end of 2024. Mattr's strategic rationale for the acquisition includes enhancing its geographical reach into the U.S. market, broadening its product offerings to include medium voltage solutions, and leveraging AmerCable's existing expertise and manufacturing footprint. The acquisition aligns with Mattr’s long-term growth objectives, offering synergies with its existing Shawflex brand. Additionally, this acquisition is anticipated to be financially accretive immediately post-closing, improving earnings per share while maintaining a robust financial position. This move is part of Mattr’s strategy to support the large-scale electrification movement across Canada and the U.S., enhancing its competitive positioning in the critical infrastructure market.