Mattr Completes Acquisition of AmerCable, Establishing US Wire and Cable Manufacturing Footprint

Mattr Corp. (TSX: MATR) has successfully closed its acquisition of AmerCable Incorporated (AmerCable), a leading U.S.-based manufacturer of highly engineered wire and cable solutions. This strategic move, valued at US$280 million, positions Mattr as a premier provider of highly engineered wire and cable technologies across the North American marketplace. The acquisition of AmerCable is expected to significantly enhance Mattr's wire and cable business exposure within the large and growing U.S. market, while also expanding its geographic presence and product offerings.

AmerCable's broad portfolio of low and medium-voltage electrical power, control, and instrumentation cable solutions complements Mattr's existing range of Shawflex branded products. This combination will enable Mattr to better serve customers in both Canada and the U.S., addressing the evolving needs of critical infrastructure sectors such as mineral extraction, renewable power generation, general industrial, and energy end markets. By combining the technical capabilities of both companies, Mattr can enhance its product offerings and better serve customers in both Canada and the U.S.

The acquisition of AmerCable also brings unique medium voltage wire and cable capabilities to Mattr, allowing the company to offer this critical electrification solution across North America alongside its existing, predominantly Canadian, low voltage solutions. This broadened product offering enables Mattr to better serve customers in both Canada and the U.S., driving growth and improving margins.

Mattr's President and CEO, Mike Reeves, expressed his enthusiasm for 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 broad 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."

The acquisition of AmerCable is expected to be immediately accretive to Mattr's earnings per share (EPS), excluding expected synergies. This strategic move aligns well with Mattr's previously disclosed M&A criteria and offers a platform to expand its U.S. wire and cable footprint, particularly in the medium voltage space. This segment is benefiting from electrification tailwinds and longer-term macro trends, positioning Mattr for continued growth and success in the North American wire and cable market.

In conclusion, Mattr's acquisition of AmerCable is a strategic and financially advantageous move that enhances the company's market presence, expands its product offerings, and drives long-term growth and margin profile in the North American wire and cable market. By combining the technical capabilities of both companies, Mattr is well-positioned to serve the evolving needs of critical infrastructure sectors and capitalize on the growing demand for highly engineered wire and cable solutions.