Business
Astec Completes Acquisition of CWMF, LLC
Revenue growth potential, margin expansion, EPS accretivePurchase price of $67.5 million in cash, on a cash-free, debt-free basisSynergies expected by end of
About this update from Astec Industries, Inc.
[{"type":"text","content":"Revenue growth potential, margin expansion, EPS accretivePurchase price of $67.5 million in cash, on a cash-free, debt-free basisSynergies expected by end of year oneExpected proforma net leverage ratio of 1.5 - 2.5x net debt/adjusted EBITDA CHATTANOOGA, Tenn., Jan. 02, 2026 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ: ASTE) (“Astec” or “Company”) today announced the completion of its acquisition of CWMF, LLC (“CWMF”). Astec anticipates the acquisition will increase gross profit margins, adjusted EBITDA margins and earnings per share. Jaco van der Merwe, Astec President and CEO said: “We are pleased to welcome the CWMF employees into the Astec family. CWMF has strong customer relationships in the Midwest, South-Central and Great Lakes regions of the United States and is an excellent cultural fit with Astec. The addition enhances our ability to serve our customers, increases capacity in our Infrastructure Solutions segment and adds further growth opportunities to generate enhanced shareholder value.” Brian Harris, Chief Financial Officer, commented, “The addition of CWMF is consistent with our disciplined growth strategy. With annual revenue of approximately $50 million, we fully expect CWMF will enhance our earnings and be accretive while we will stay within our previously disclosed, disciplined leverage range.” About ASTEC Astec is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec's manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plants, thermal and storage solutions; and Materials Solutions that includes our aggregate processing equipment. Astec also operates a line of controls and automation products designed to deliver enhanced productivity through improved equipment performance About CWMF CWMF (https://cwmfcorp.com/) is a United States manufacturer of portable and stationary asphalt plant equipment, including drum mixers, baghouses, reclaimed asphalt product (RAP) crushers, scalping screens, and complete plant components. CWMF equipment is known for durability, craftsmanship, and practical design. Forward Looking Statements Safe Harbor Statements under the Private Securities Litigation Reform Act. This News Release contains forward-looking statements ...