Commercial Metals Closes USD 550m Acquisition of Tensar.
MANews-(C)2009-2022
Texas-based steel and metals manufacturer Commercial Metals Company (NYSE: CMC) has closed the acquisition of US-based Tensar, a provider of engineered solutions for subgrade reinforcement solutions, in a transaction valued at USD 550m, the company said.
The purchase price represents a multiple of 8.4x Tensar's expected 2021 EBITDA, inclusive of clearly executable cost synergies of approximately USD 5m.
CMC said the transaction will strengthen its position as a global reinforcement solutions provider, capable of addressing multiple early phases of commercial and infrastructure construction, including...
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