Astec Enters into Definitive Agreement to Acquire CWMF Corporation

Core Viewpoint - Astec Industries, Inc. has signed a definitive agreement to acquire CWMF Corporation, a manufacturer of asphalt plant equipment with annual revenues of approximately $50 million, primarily serving the Midwest, South-Central, and Great Lakes regions of the United States [1][2]. Group 1: Acquisition Details - The acquisition of CWMF is aligned with Astec's disciplined growth strategy and is expected to be efficiently integrated due to the strong cultural fit between the two organizations [2]. - The transaction is anticipated to close in the first quarter of 2026 and is projected to be accretive from day one, with the consolidated net leverage ratio expected to remain within the previously disclosed range of 1.5 to 2.5 times net debt to adjusted EBITDA [2]. Group 2: Company Overview - Astec is a manufacturer specializing in equipment for asphalt road building, aggregate processing, and concrete production, with operations divided into two primary segments: Infrastructure Solutions and Materials Solutions [3]. - Infrastructure Solutions includes the design, engineering, manufacturing, and marketing of asphalt and concrete plants, along with related components and heavy equipment [3]. - Materials Solutions focuses on heavy and soft rock processing equipment, servicing, and supplying parts for various markets including aggregate, civil construction, energy, mining, and recycling [3].