Mattr Completes Acquisition of AmerCable, Cementing U.S. Manufacturing Presence
Deal News | Jan 02, 2025 | Globenewswire
Mattr Corp., a Toronto-based global materials technology company, has completed its acquisition of AmerCable Incorporated for a total purchase price of $280 million. The acquisition, previously announced, positions Mattr as a leading provider of engineered wire and cable technologies across North America. AmerCable, known for manufacturing low and medium-voltage electrical power, control, and instrumentation cables, serves the critical infrastructure industry, including sectors such as mineral extraction, renewable power generation, and general industry. This strategic move expands Mattr's product offerings and complements its Shawflex branded solutions. Mattr's CEO, Mike Reeves, expressed excitement in integrating AmerCable's talented employees and strengthening Mattr’s North American footprint as part of its Connection Technologies segment. The acquisition was made from Nexans USA Inc., bolstering Mattr's market position within North American critical infrastructure sectors.
Sectors
- Manufacturing
- Energy and Utilities
- Industrial Products
Geography
- United States – AmerCable's acquisition establishes Mattr's manufacturing footprint in the U.S., a key geographic market for the company's growth strategy.
- Canada – Mattr Corp., the acquiring company, is based in Toronto, Canada.
Industry
- Manufacturing – The article discusses the acquisition of AmerCable, a manufacturer of electrical cables, which enhances Mattr's capabilities in the manufacturing sector.
- Energy and Utilities – AmerCable serves renewable power generation and energy end markets, emphasizing its role in the energy and utilities sector.
- Industrial Products – The article highlights AmerCable's product offerings in the industrial sector, including control and instrumentation cables.
Financials
- 280,000,000 USD – Total purchase price for the acquisition of AmerCable by Mattr Corp.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mattr Corp. | Acquiring Company | Company | A Toronto-based global materials technology company focusing on critical infrastructure markets. |
| AmerCable Incorporated | Target Company | Company | Manufacturer of engineered electrical power, control, and instrumentation cables. |
| Nexans USA Inc. | Selling Company | Company | Parent company from which AmerCable was acquired. |
| Mike Reeves | CEO of Mattr Corp. | Person | President and CEO of Mattr Corp., overseeing the acquisition strategy. |