On November 8, 2024, Mattr Corp. (TSX: MATR) announced its agreement to acquire AmerCable Incorporated, a U.S.-based manufacturer of engineered wire and cable solutions, from Nexans USA Inc. for US$280M (approximately C$390M). The acquisition will expand Mattr’s Connection Technologies segment, adding medium voltage cable capabilities and manufacturing facilities in Arkansas and Texas. The deal, valued at 5.0x AmerCable’s trailing twelve-month Adjusted EBITDA, is expected to enhance Mattr’s portfolio, improve financial performance, and be immediately accretive to earnings per share (EPS).

Mattr will finance the transaction through cash and existing credit facilities while maintaining flexibility for growth initiatives. The acquisition, subject to regulatory approvals and customary closing conditions, is anticipated to close by year-end 2024. TD Securities Inc. served as the financial advisor, and Dentons LLP acted as legal counsel to Mattr. Transaction fees are estimated at C$8-9M.