Astec Industries To Acquire Asphalt Plant Equipment Maker CWMF
Astec Industries, Inc. (ASTE) announced it will acquire CWMF Corporation, an asphalt plant equipment manufacturer with $50 million in annual revenue. The transaction is expected to be accretive from day one and is set to close in Q1 2026. Astec's shares rose over 1% in pre-market trading. The acquisition aligns with Astec's growth strategy and is anticipated to integrate efficiently.
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Astec Industries, Inc. (ASTE) on Thursday said it has agreed to acquire CWMF Corporation, a manufacturer of asphalt plant equipment, with annual revenue of about $50 million.
Brian Harris, Astec's Chief Financial Officer, said the transaction is expected to be accretive from day one.
Astec, a manufacturer of specialized equipment for asphalt road building, aggregate processing, and concrete production, expects the deal to close in the first quarter of 2026.
Jaco van der Merwe, Astec President and Chief Executive Officer said, "The pending CWMF acquisition is consistent with our disciplined growth strategy. Based on the extensive product and anufacturing knowledge of our combined teams, we anticipate integration to be efficient."
Astec Industries shares were up more than 1% in pre-market trading, after closing at $45.72, up 3.98% on Wednesday.
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