Atkore Inc. Announces Acquisition of Elite Polymer Solutions

Rhea-AI Summary

Atkore Inc. has acquired the assets of Elite Polymer Solutions for $91.6 million. This acquisition is set to enhance Atkore's High Density Polyethylene (HDPE) conduit offerings, particularly in the telecommunications, utility, and transportation sectors. The move aims to expand Atkore's national footprint and meet the rising demand for underground protection in these industries. Elite Polymer Solutions is based in Lovelady, Texas, employing about 55 staff, and will continue operations at its current location.

Positive

• Acquisition of Elite Polymer Solutions strengthens Atkore's HDPE conduit portfolio.
• Expansion of national presence in telecommunications, utility, and transportation markets.
• Increased ability to meet demand for underground protection in key industries.

Negative

• None.

HARVEY, Ill.--(BUSINESS WIRE)-- Atkore Inc. (“Atkore”), today announced the acquisition of the assets of Elite Polymer Solutions (“Elite”), a manufacturer of High Density Polyethylene (HDPE) conduit, primarily serving telecommunications, utility, and transportation markets (www.elitepolymersolutions.com) for a purchase price of $91.6 million.

“The acquisition of Elite Polymer Solutions strengthens our HDPE conduit product portfolio, expands our national presence and enables us to better serve increased demand for underground protection in the electrical, utility and telecom industries,” said John Pregenzer, President of Atkore’s Electrical business.

Bill Waltz, Atkore President and CEO, noted, “Atkore remains diligent in executing upon our capital allocation strategy to drive value creation for our shareholders through organic investments, M&A and stock repurchases.”

Elite Polymer Solutions is headquartered in Lovelady, Texas, with approximately 55 employees. It will continue operating at its current location.

About Atkore Inc.

Atkore is forging a future where our employees, customers, suppliers, shareholders and communities are building better together – a future focused on serving the customer and powering and protecting the world.

With a global network of manufacturing and distribution facilities worldwide, Atkore is a leading provider of electrical, safety and infrastructure solutions.

To learn more, please visit at www.atkore.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221108006220/en/

Lisa Winter

Vice President - Communications

Atkore Inc.

708 225-2453

John Deitzer

Vice President – Investor Relations & Treasury

Atkore Inc.

708 225 2124

Source: Atkore, Inc.

FAQ

What did Atkore Inc. acquire?

Atkore Inc. acquired the assets of Elite Polymer Solutions.

How much did Atkore pay for Elite Polymer Solutions?

Atkore paid $91.6 million for the acquisition.

What is the strategic importance of the acquisition for Atkore?

The acquisition strengthens Atkore's HDPE conduit product portfolio and allows better service for the telecommunications, utility, and transportation markets.

Where is Elite Polymer Solutions located?

Elite Polymer Solutions is headquartered in Lovelady, Texas.

How many employees does Elite Polymer Solutions have?

Elite Polymer Solutions has approximately 55 employees.