MUELLER INDUSTRIES INC acquires Nehring Electrical Works Company

MUELLER INDUSTRIES INC acquired Nehring Electrical Works Company for approximately $569.2 million (net of working capital adjustments); announced at approximately $575 million plus a $25 million earn-out, a transaction completed in May 2024, structured as all cash.

Nehring Electrical Works Company operates in Industrial Metals (Nehring), is based in DeKalb, Illinois, United States, had revenue of about approximately $400 million (TTM ended December 31, 2023). Founded in 1912 and headquartered in DeKalb, Illinois, Nehring produces wire and cable solutions for the utility, telecommunication, electrical distribution, and OEM markets, operating through Nehring Electrical Works Company, Conex Cable, L.L.C., and Unified Wire & Cable, Inc. For the twelve months ended December 31, 2023, Nehring's net sales were approximately $400 million.

This acquisition provides a substantial platform for long-term growth in the electrical and power infrastructure space and complements the other critical infrastructure sectors we support. In addition to its operational culture, which is well aligned with our own, the addition of Nehring leverages our deep expertise in metals, particularly copper and aluminum extrusion, and provides synergies to both companies.

Recognized supplier to utilities, REAs, municipalities, telecommunications and electrical distribution companies across the U.S., with attractive margins and a culture aligned to Mueller's. Leverages Mueller's copper and aluminum extrusion expertise; expected to be accretive to 2024 financial results. Reported within the Industrial Metals segment as Nehring

Advisory firms were not disclosed for this transaction.