Astec Industries, Inc. announced the acquisition of two premier full-line concrete batch plant manufacturers serving customers around the world.

Astec has acquired Concrete Equipment Company, Inc. and BMH Systems, Inc., which had combined annualized sales in 2019 of approximately $50 million. The acquisitions were funded with cash on hand and will be immediately accretive to EPS. Terms of the transactions were not disclosed.

“We are very pleased to welcome CON-E-CO and BMH Systems to Astec”,

commented Barry A. Ruffalo, Chief Executive Officer of Astec.

“The addition of these highly regarded brands, along with our existing RexCon brand of concrete products will significantly strengthen our ability to serve our customers’ needs – Rock to Road. By bringing these product lines together, our global customers will have access to the most robust line of concrete products in the infrastructure industry. Both organizations are an excellent cultural fit with Astec, as they are customer focused, innovative and performance-oriented. These acquisitions also reflect our disciplined capital allocation process, and we maintain significant financial flexibility as we continue to effectively manage our operations in this unprecedented environment.”

Source: Astec Industries, Inc.