Astec To Acquire Asphalt Equipment Maker CWMF

Dubai (PlantAndEquipment.com) - Astec Industries announced it has agreed to acquire CWMF Corporation, a move that will expand its asphalt equipment portfolio in the United States.

CWMF manufactures portable and stationary asphalt plant equipment and related parts, generating annual revenue of about $50 million. Its products are primarily distributed across the Midwest, South Central and Great Lakes regions.

Astec disclosed the acquisition aligns with its growth strategy and that the two companies’ complementary manufacturing and product capabilities are expected to support a smooth integration. The transaction is expected to close in the first quarter of 2026, subject to customary conditions.

The company added that the deal is expected to be accretive from closing, with its net leverage ratio remaining within its targeted range following completion.