Prysmian / Atkore Deal Closes. New Rep Network Announced

The Prysmian / Atkore deal is done. It legally was closed yesterday, October 19^th. The deal was first announced early August and since then there has been much discussion throughout the industry on why will rep which / what line.

While many hoped for a “status quo,” many expected some change given that Atkore had a sales, and branding, philosophy of “two bites of the apple (at the opportunity)” with a dual branding approach in some product categories, and multiple markets in many markets due to lack of consolidation following some acquisitions (most notable its acquisition of Calpipe with had three primary brands in the electrical channel – Calbrite, Calbond, and Calconduit.) While Atkore, reportedly, was slowly seeking to streamline its rep network, the operative word was “slowly.” Brazil Brothers was the first rep that was proactive under this scenario.

Many recognized that the “two bites” and “segmentation of brands” would probably get streamlined into “someone.” Many larger Atkore reps hoped, perhaps “expected” that this would become them, and maybe naturally so since they had been promoting this to Atkore management.

But when Prysmian originally announced the deal, Massimo Battaini, CEO Prysmian, commented: “Electrification, AI-driven data centers and digitalization all require major investments in infrastructure, and they are critical to the modern economy, and the opportunity is substantial in the United States. As a leading provider of energy and digital connections, our priority has been to find the right solution to enhance our outstanding growth and profitability by adding the right commercial platform and product portfolio to maximize our potential. Atkore offers an attractive combination of complementary products, structural growth exposure, and meaningful synergy opportunities – and represents a major acceleration in Prysmian’s evolution into a fully-fledged electrical solutions provider.” Their strategic rationale for the deal infers a one-rep solution as having a Prysmian sales group representing a competitor and an Atkore representative promoting a wire competitor would have defeated their objective.

Further, when Prysmian, whose US electrical brand was General Cable, acquired Encore Wire, the company did not interview any reps to determine its rep strategy. They reviewed financials, had internal meetings, and selected to proceed with the Encore reps. Decisions announced 30 days from deal close.

So, commercial / strategic reasons, internal decisions, no interviews, decisions made and announced.

Prysmian Announces New Prysmian / Atkore Rep Network

Seeking to act quickly, Prysmian announced its new rep organization. It’s a slight mix. 22 representative agencies. Some surprises due to their size but, for the most part, Prysmian selected Prysmian representatives.

The list is:

• AJB Sales: Minnesota, West Wisconsin, North Dakota, South Dakota, Montana
• Apex Electrical Sales, Inc.: Arizona
• Callas Kingsley Electrical Sales: N. Illinois, E. Wisconsin, and N. Michigan
• Cascade Western: Oregon, Alaska, Washington, Northern Idaho
• Convergence Partners, Inc.: Kansas, Missouri, and Southern Illinois
• DDK Sales: Maryland, DC, Northern Virginia
• ESP (Electrical Specified Products): Colorado, Southwest Nevada (Vegas), and Eastern Wyoming
• Gallagher Sales Associates, Inc.: Upstate New York, New Hampshire, Maine, Vermont, Connecticut, Massachusetts, Rhode Island
• Gen-Mark: Western Pennsylvania, West Virginia, and Ohio
• Gorin-Cockrell-Decker FL (GCD): Florida
• Gorin-Cockrell-Decker (GCD): Alabama and Georgia
• Healy-Mattos (a division of Nelson & Associates): Northern California, Northwestern Nevada
• Joe Bertsch Electrical Sales Company: Iowa and Nebraska
• Lyle W. Williams Company: Utah, Eastern Nevada, Southern Idaho, and Western Wyoming
• McCreary Sales: Texas, Oklahoma, New Mexico
• Nelson & Associates: Southern California, Hawaii
• Pfeiffer Sales Company: Michigan, Indiana, and Kentucky
• Power Corp.: Arkansas, Louisiana, and Mississippi
• Power Corp. TN Office: Tennessee
• Synergy Electrical Sales, Inc.: New York (Long Island, Westchester, Rockland, Putnam & Orange Counties), Eastern Pennsylvania, Southern New Jersey, Delaware
• Vincent-Angel, Inc.: Virginia (excluding NOVA), North Carolina, South Carolina

While no effective date was mentioned in the press release, according to a LinkedIn posting by Gen-Mark, or at least for them, the transition is effective October 20^th.

Other than Brian Moriarty being announced as President of Atkore while retaining his position as Senior Vice President of Industrial & Construction for Prysmian | Encore Wire and Bill Waltz becoming a Strategic Advisor, no other personnel announcements were made at this time.

As can be seen, many long-term, significant, Atkore reps were not offered the line, and this is where it becomes interesting given that a number of the Prysmian reps represented a number of Atkore’s competitors. These manufacturers will be seeking alternative representation. Will they authorize the former Atkore rep who understands the product category, customers, pricing levels and more? Or will they look at local markets anew and interview multiple reps and select someone else?

And then, for those who lost much business, perhaps they do not seek to replace Atkore lines and seek different “personas” for their agencies and “pivot.” And for some that had short-line cards and lost Atkore, will the agency dramatically change?

Much unknown, but new opportunities.

Distribution will still write orders. Many already had relationships with the Prysmian rep because of doing business with Encore and/or General Cable lines, so they have some relationship with the Prysmian rep. Maybe so, maybe not at contractors, especially for those who were awarded new territories.

Similar to when Prysmian selected Encore reps over General Cable / Prysmian reps there will be much discussed afterwards, and we’ve heard some already, new allegiances between manufacturers and reps will be made and 2027 will start with a fresh slate for all.

Some Prysmian Takeaways

• When acquisitions occur, the acquirer makes the decisions. While reps can represent the lines for many many years, to the acquirer, they may select loyalty or their “known,” especially if the lines are very complementary. This, unfortunately, is the nature of 30-day contracts.
• As a non-Prysmian / non-Atkore rep said to me, one of his goals is for no manufacturer to represent more than 10% of their commissions. If someone represents a platform or large commodity line, this is difficult, but it is a business strategy. Diversification can be a protector.
• In this phase of consolidation, expect more rep rationalization as platforms make acquisitions as it will align with their strategic objectives. Some may take the Prysmian approach; some may interview all involved. Decisions may be made based upon financial performance and perhaps even a website review or asking about perceptions of an agency (hence agencies that market themselves and have higher industry visibility may benefit.)