Nexans to sell AmerCable to MATTR for an enterprise value of USD 280 million. This agreement aligns with Nexans’ strategy to refocus on electrification and simplify the Group.
Nov 15, 2024
Nexans has announced the execution of an agreement to sell AmerCable, a leading manufacturer of electrical power, control and instrumentation cables for harsh environments, to MATTR for an enterprise value of USD 280 million.
‘‘This agreement aligns with our strategy to refocus on electrification and simplify the Group. Acquired in 2012, AmerCable has been a key pillar of our industry & solutions portfolio. The business went through a significant transformation over the last decade and in the last three years. With the implementation of our SHIFT program, we have brought the business to its full potential and full capacity. It was therefore the appropriate time to look for a new owner that could invest and grow the business further as our cycle was successfully completed. Our AmerCable colleagues will join a company with a great strategic fit and focus on specialty cables in North America,’’ said Christopher Guérin, CEO, Nexans
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‘‘AmerCable is a highly respected North American cabling company with exceptional brand and product development capabilities. We plan to grow the business further and expand its successful operations,’’ added, Mike Reeves, CEO, MATTR.
Since 1922, AmerCable has been producing power cables designed to operate reliably over long periods of time in extremely harsh operating environments for mining, and oil & gas markets. Based in the United States, Arkansas, with 300 employees, AmerCable in 2023 reporteed a standard sales of EUR 234 million.
