Mueller Industries To Acquire Nehring Electrical Works Company For $575M Plus $25M Earn Out
Portfolio Pulse from Benzinga Newsdesk
Mueller Industries, Inc. (NYSE:MLI) is set to acquire Nehring Electrical Works Company and its affiliates for $575 million, with an additional $25 million earn out. Nehring, known for its high-quality wire and cable solutions, reported annual net sales of $400 million for the year ending December 31, 2023. This acquisition aims to enhance Mueller Industries' offerings in the utility, telecommunication, electrical distribution, and OEM markets.
April 22, 2024 | 11:04 am
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Mueller Industries' acquisition of Nehring Electrical Works Company for $575M plus a $25M earn out could significantly enhance its product offerings and market reach in the utility and telecommunications sectors.
The acquisition of Nehring Electrical Works by Mueller Industries is likely to have a positive short-term impact on MLI's stock price due to the strategic expansion into new markets and the addition of Nehring's substantial $400 million annual sales to Mueller's revenue stream. This move signals Mueller's commitment to growing its presence in the utility, telecommunication, and electrical distribution sectors, potentially leading to increased investor confidence and stock valuation.
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