DALLAS - Arcosa , Inc. (NYSE: NYSE:ACA), a company specializing in infrastructure-related products and solutions, has announced a definitive agreement to purchase Ameron Pole Products, LLC from NOV Inc. (NYSE: NOV). The transaction, valued at $180 million, will be paid in cash and through available credit facilities, aiming to close in the second quarter of 2024, pending standard closing and regulatory conditions.
Ameron, established in 1970, is recognized for its engineered concrete and steel poles used in various infrastructure applications such as lighting, traffic, and telecommunications. With manufacturing facilities across Alabama, California, and Oklahoma, Ameron reported revenues of around $94 million and an Adjusted EBITDA of approximately $20 million for the year ending December 31, 2023. The acquisition price reflects a 9.0x EBITDA multiple.
Antonio Carrillo, President and CEO of Arcosa, remarked on the acquisition's strategic alignment with the company's growth objectives, noting Ameron's complementary product offerings and its potential to enhance Arcosa's Engineered Structures segment. Carrillo expressed enthusiasm about integrating Ameron's team and leveraging collective strengths to foster growth.
Arcosa, headquartered in Dallas, Texas, operates across construction, engineered structures, and transportation markets, reporting financials across three principal business segments. The company's acquisition of Ameron is expected to augment its presence in the infrastructure sector and contribute to its margin expansion.
This news is based on a press release statement.
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