TORONTO, Nov. 08, 2024 (GLOBE NEWSWIRE) — Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced today that it has agreed to acquire AmerCable Incorporated (“AmerCable”), a globally recognized U.S. manufacturer of highly engineered wire and cable solutions used in mission critical applications. Mattr, through its subsidiary, has entered into a definitive agreement to acquire all of the outstanding shares of AmerCable from Nexans USA Inc. (“Nexans”) (EPA: NEX) for a purchase price of US$280M, or approximately C$390M (the “Transaction”). This purchase price represents a multiple of approximately 5.0 times Adjusted EBITDA1 of the AmerCable business for the trailing twelve-month (“TTM”) period ended June 30, 2024. The Transaction is subject to customary closing conditions including U.S. anti-trust review and approval. Upon closing of the Transaction, which the Company anticipates will occur around year end, AmerCable will be incorporated into Mattr’s Connection Technologies reporting segment and will position the Company as one of the premier, custom engineered cable manufacturers in North America.
“The pending acquisition of AmerCable will be a significant step forward in Mattr’s strategy to enhance our wire and cable business exposure within the large and growing U.S. market,” said Mike Reeves, Mattr’s President and CEO. “This transaction will broaden our existing portfolio of highly engineered low voltage electrical power,…
