Business
Prysmian Closes the Acquisition of Channell
Prysmian Closes the Acquisition of Channell
About this update from Prysmian S.p.a.
HIGHLAND HEIGHTS, KY / ACCESS Newswire / June 10, 2025 / Prysmian, a world leader in the energy transition and digital transformation, has completed the acquisition of Channell Commercial Corporation ("Channell"), a leading U.S.-based manufacturer of thermoplastic enclosures and fiber management solutions, for a base purchase price of $950 million, subject to customary adjustments as set forth in the merger agreement. Under the terms of the merger agreement, Prysmian may also be required to make an additional potential payment of up to $200 million upon Channell's achievement of specified EBITDA performance targets for the 2025 calendar year.This strategic move positions Prysmian as a leading provider of complete end-to-end Fiber-to-the-Home (FTTH) solutions, covering connectivity from the curb to the home. The acquisition also strengthens Prysmian's overall position in the North American cable sector.By combining Prysmian's market-leading portfolio of optical cable products - including ribbon, loose tube, and drop cables - with Channell's innovative infrastructure components, the acquisition creates a comprehensive FTTH solution for customers in North America. This integration enables telecommunications providers to simplify network deployments, enhance service quality, and reduce costs. As a result of the acquisition, Prysmian's positioning in the connectivity solutions space will also be strengthened, thanks to an extended commercial reach and complementary R&D focus that will position the business for the roll-out of FTTH and 5G, as well as the growth of data centers.With the closing complete, Channell will be fully consolidated into the Prysmian perimeter for financial reporting as of June 1, 2025. As communicated at Q1 '25, Prysmian's FY25 guidance excludes the contribution of Channell. Prysmian will now review its guidance and disclose it, taking into account the contribution from Channell, with the 1H '25 results that will be issued on July 31, 2025."Our synergistic portfolio of energy and digital solutions has been strengthened thanks to this acquisition, and as a result, we will bring benefit to customers across North America, while boosting our global competitiveness in the digital space," said Massimo Battaini, CEO, Prysmian. "I am delighted to welcome the Channell team to Prysmian - we have a culture that truly recognizes the value from the c...