Irenic Is Said to Build Stake in Atkore, Push for a Sale

Irenic Capital Management has built a 2.5% stake in electrical manufacturing company Atkore Inc. and is urging it to pursue a potential sales process, according to people with knowledge of the matter.

The activist investor has privately engaged with the board and management of the Harvey, Illinois-based company, the people said, asking not to be identified discussing private information. A sale to private equity is the best outcome for shareholders, the hedge fund contends, the people said.

A spokesperson for Atkore declined to comment. A representative for Irenic didn’t immediately respond to comment.

Atkore, which is working with Citigroup Inc. ...