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News  ›  Benzinga

Astec Completes Acquisition of CWMF, LLC

Benzinga Logo Benzinga By Globe Newswire
Astec Completes Acquisition of CWMF, LLC

Astec Industries has completed its acquisition of CWMF, LLC for $67.5 million in cash. CWMF is a manufacturer of portable and stationary asphalt plant equipment. Astec expects the acquisition to increase gross profit margins, adjusted EBITDA margins, and earnings per share, with synergies anticipated by the end of year one and a proforma net leverage ratio of 1.5-2.5x.

Insights
ASTE   positive

The acquisition is expected to be accretive to earnings, increase margins, enhance customer service capacity, and generate shareholder value while maintaining disciplined leverage ratios. Management commentary is optimistic about cultural fit and growth opportunities.