M&A Deal Summary

Astec Industries Acquires CON-E-CO

On July 20, 2020, Astec Industries acquired machinery company CON-E-CO from McNeilus Companies

Acquisition Highlights
  • This is Astec Industries’ 10th transaction in the Machinery sector.
  • This is Astec Industries’ 11th transaction in the United States.
  • This is Astec Industries’ 1st transaction in Nebraska.

M&A Deal Summary
Date 2020-07-20
Target CON-E-CO
Sector Machinery
Buyer(s) Astec Industries
Sellers(s) McNeilus Companies
Deal Type Divestiture

Target

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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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 12 of 13
Sector (Machinery) 10 of 11
Type (Divestiture) 1 of 1
State (Nebraska) 1 of 1
Country (United States) 11 of 11
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-02 RexCon

Burlington, Wisconsin, United States

RexCon LLC is specializes in providing portable, high-production concrete equipment to contractors and producers worldwide in a totally integrated turnkey production system, including customized site layout and design engineering, batch plants, mixers, water heaters and chillers, ice production and delivery systems, material handling conveyors, gensets and power distribution, cement silos and screws, central dust collection, aggregate heating and cooling systems, batch automation controls, and batch office trailers.

Buy $26M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-23 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.

Buy -

Seller(S) 1

SELLER

McNeilus Companies

Dodge Center, Minnesota, United States
Category Company
Founded 1975
Sector Machinery
DESCRIPTION

McNeilus Companies, Inc., is a producer of compressed natural gas (CNG) powered garbage trucks.

DEAL STATS #
Overall 1 of 2
Sector (Machinery) 1 of 2
Type (Divestiture) 1 of 2
State (Nebraska) 1 of 1
Country (United States) 1 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-22 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-08 Cartseeker Curbside Automation

Naarden, Netherlands

Cartseeker Curbside Automation is a patented AI-based recognition technology that identifies and locates curbside waste carts and helps automate the operation of the truck’s robotic lift arm without joystick manipulation. Cartseeker Curbside Automation is based in Naarden, Netherlands.

Buy -
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