Astec Industries Agrees To Acquire CWMF Corp. For Undisclosed Terms; Transaction Expected To Be Completed In Q1 2026

Astec Industries, Inc. (NASDAQ:ASTE) ("Astec" or "Company") today announced the signing of a definitive agreement to acquire CWMF Corporation ("CWMF"). CWMF (https://cwmfcorp.com/) is a manufacturer of portable and stationary asphalt plant equipment and parts with annual revenues of approximately $50 million. The distribution of CWMF products is primarily concentrated in the Midwest, South-Central and Great Lakes regions of the United States.

Brian Harris, Chief Financial Officer added, "We anticipate closing on the CWMF acquisition in the first quarter of 2026. We expect the transaction to be accretive from day one and project our consolidated net leverage ratio to remain within our previously disclosed range of 1.5 to 2.5x net debt/adjusted EBITDA."