M&A Deal Summary

Astec Industries Acquires MINDS

On March 23, 2022, Astec Industries acquired machinery company MINDS

Acquisition Highlights
  • This is Astec Industries’ 11th transaction in the Machinery sector.
  • This is Astec Industries’ 1st transaction in Canada.
  • This is Astec Industries’ 1st transaction in British Columbia.

M&A Deal Summary
Date 2022-03-23
Target MINDS
Sector Machinery
Buyer(s) Astec Industries
Deal Type Add-on Acquisition

Target

MINDS

Kelowna, British Columbia, Canada
MINDS is a provider in plant automation control systems and cloud-based data management in the asphalt industry. The company develops user-friendly, advanced, customizable plant automation control systems for drum, batch, combo/hybrid hot mix plants, emulsion plants, liquid terminals, silo load-out, ticketing, and data management for the asphalt industry. MINDS was founded in 1994 and is based in Kelowna, British Columbia.

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Buyer(S) 1

Buyer

Astec Industries

Chattanooga, Tennessee, United States
Category Company
Founded 1972
Sector Machinery
Employees4,322
Revenue 1.3B USD (2023)
DESCRIPTION

Astec Industries is a manufacturer of specialized equipment for asphalt road building; aggregate processing; oil, gas and water well drilling; and wood processing. Astec Industries was founded in 1972 and is based in Chattanooga, Tennessee.

DEAL STATS #
Overall 13 of 13
Sector (Machinery) 11 of 11
Type (Add-on Acquisition) 12 of 12
State (British Columbia) 1 of 1
Country (Canada) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-20 CON-E-CO

Blair, Nebraska, United States

CON-E-CO is a premier manufacturer of concrete batch plants, mixers, material handling systems, dust control systems, and related equipment. It engineers, manufactures, and supports North America’s leading line of portable and stationary concrete batch plants, mixers, material handling systems, and dust control. CON-E-CO was formed in 1957 and is based in Blair, Nebraska.

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