Mueller Industries (MLI) has officially agreed to purchase Nehring Electrical Works Company and some of its subsidiaries for around $575 million, along with an additional $25 million earn-out. Nehring, based in DeKalb, Illinois, specializes in manufacturing wire and cable solutions. Their products cater to the needs of various industries including utility, telecommunication, electrical distribution, and OEM markets. As of the year end on December 31, 2023, Nehring reported net sales of about $400 million.
Mueller announced that this purchase, payable from its available cash, is slated to finalize in the second quarter of 2024. Even after this acquisition, Mueller will maintain a substantial cash reserve to facilitate further growth opportunities.
