Pittsburgh-Based L.B. Foster Announces $52.2 Million Acquisition on October 29 in Allegheny County, Pennsylvania: Buys Texas Precast Concrete Firm with About $18 Million in Expected Annual Revenue
L.B. Foster Company, a provider of products and services for the rail and infrastructure markets headquartered in Pittsburgh, Allegheny County, Pennsylvania, announced on October 29 that its wholly owned subsidiary CXT Incorporated has acquired the operating assets of Dulworth Enterprises, Inc., a privately held company based in Rice, Texas, for approximately $52.2 million in cash; the acquisition was completed on October 28. According to the company's announcement, Dulworth specializes in residential wastewater precast products and Aeris aerobic treatment systems, is expected to generate annual revenue of approximately $18 million and, after integration is completed, an annual EBITDA contribution of $6.5 million to $7.5 million; integration activities are expected to take 12 to 18 months. The company said the acquisition is designed to accelerate its growth strategy by expanding manufacturing capabilities, enhancing its product portfolio and increasing its exposure to the high-growth precast concrete end market. L.B. Foster provides products and services to the global rail and infrastructure markets, and CXT is the operating entity for its precast concrete business; after the acquisition, Dulworth's residential wastewater product lines will be folded into CXT. The company disclosed no further details beyond the customary indemnification holdbacks in the transaction, and said the acquisition was paid for in cash, consistent with its expansion direction in infrastructure and water treatment.
Source: GSM · USA (original Chinese edition)
Photo: 资料图：匹兹堡市政厅（GSM固定图库cities包），非公司本体（同城同批换图：县级固定图库）
