Nexans to sell AmerCable to Mattr for $280 million

Nexans has agreed to sell AmerCable, its Arkansas-based subsidiary specializing in power, control, and instrumentation cables for harsh environments, to Mattr for an enterprise value of $280 million. 

Known for its durable cables widely used in mining and oil and gas industries, AmerCable has been a key player in the power cable sector since 1922 and employs over 300 people.

This sale aligns with Nexans’ strategy to focus on electrification, positioning itself as a ‘Pure Electrification Player’. AmerCable, acquired by Nexans in 2012, underwent substantial development under the SHIFT programme and is now set to join Mattr, which aims to grow AmerCable’s operations further in North America.

The acquisition is expected to close by the end of the year, pending regulatory approvals and other conditions.