Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) has officially finalized its acquisition of AmerCable Incorporated (“AmerCable”), as previously announced. This acquisition will integrate AmerCable into Mattr’s Connection Technologies reporting segment. The transaction involved Mattr purchasing all outstanding shares of AmerCable from Nexans USA Inc. (“Nexans”) (EPA:NEX) for a total price of US$280 million.
Mike Reeves, President and CEO of Mattr, expressed enthusiasm about the acquisition, stating, “The addition of AmerCable to our portfolio positions Mattr as a premier provider of highly engineered wire and cable technologies across the North American marketplace. AmerCable’s diverse portfolio of low and medium-voltage electrical power, control, and instrumentation cable solutions expands and complements Mattr’s existing range of Shawflex branded products. We are excited to welcome the talented employees of AmerCable to the Mattr team.”
About AmerCable
AmerCable specializes in manufacturing highly engineered, low and medium voltage electrical power, control, and instrumentation cables. These products are designed to facilitate reliable electrification in challenging environments. The company serves a wide array of customers within the critical infrastructure sector, including mineral extraction, renewable power generation, general industrial, and energy end markets.
About Mattr
Mattr is a growth-oriented, global materials technology company that serves critical infrastructure markets broadly. These sectors include transportation, communication, water management, energy, and electrification. Mattr’s operation is divided into two segments: Composite Technologies and Connection Technologies. Through these segments, Mattr supports responsible renewal and enhancement of essential infrastructure while mitigating risk.
