Nexans divests AmerCable to Mattr for $280 million

French cable manufacturer Nexans has completed the sale of AmerCable, a specialist in electrical power, control, and instrumentation cables, to Mattr for $280 million. 

The move aligns with Nexans’ focus on its core electrification business, allowing it to concentrate on key market segments. 

The agreement, finalized in November 2024, values AmerCable at around five times its adjusted EBITDA for the 12 months ending June 2024.

AmerCable will now be part of Mattr’s connection technologies segment, expanding its presence in the North American electrification markets. 

The acquisition enhances Mattr’s product portfolio with medium voltage wire and cable capabilities, enabling it to offer a comprehensive range of electrification solutions across North America.

The deal also provides a foundation for growth, with manufacturing sites in Arkansas and Texas joining Shawflex’s facility in Ontario, Canada.