Deal Details
Astec Acquires TerraSource
Summary
Astec Industries, Inc. (“Astec”) (NASDAQ: ASTE) recently announced it has signed an agreement to acquire TerraSource Holdings, LLC (“TerraSource” or the "Company"), a portfolio company of Right Lane Industries (“Right Lane”), for $245 million of cash and cash equivalents. The transaction is expected to close in Q3 2025 and is subject to regulatory approvals and customary closing conditions.
Baird served as the exclusive financial advisor to Astec on this transaction.
About
Astec is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec's manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plants, thermal and storage solutions; and Materials Solutions that includes aggregate processing equipment. Astec also operates a line of controls and automation products designed to deliver enhanced productivity through improved equipment performance.TerraSource brings together four major brands – Gundlach Crushers, Jeffrey Rader, Pennsylvania Crusher and Elgin Separation Solutions – with a large, diverse portfolio of high-quality, innovative equipment, services and precision OEM parts backed by technical expertise. The Company delivers turn-key solutions, intelligent engineering and aftermarket support around the world, helping operations with natural resource recycling, product classification, crushing, dewatering, fluid recovery, feeding/material handling, liquid/solid separation and waste management in industries like pulp and paper, oil & gas, recycling, biomass power, aggregates, mining and mineral processing plants.
Right Lane is a privately-held industrial holding company focused on acquiring manufacturing and industrial services businesses. Right Lane is controlled and majority-owned by its management team, which allows for nimble decision making, and a long-term orientation that is driven by a desire to build great businesses. Right Lane specializes in corporate carveouts and other non-traditional buyout transactions.
CONTACT US TO LEARN MORE
- Date
- May 2025
- Company
- Astec Industries, Inc.
- Transaction
- M&A - Sellside
- Sectors
- Industrial
- Verticals
-
Machinery & Equipment
- Target Geography
- North America
- Acquiror Geography
- North America
Share
