Commercial Metals To Acquire Tensar In $550 Mln Deal

(RTTNews) - Commercial Metals Company (CMC) said Tuesday that it agreed to acquire TAC Acquisition Corp. or "Tensar", a portfolio company of Castle Harlan Inc.'s fund, Castle Harlan Partners V, L.P., and a provider of engineered solutions for subgrade reinforcement and soil stabilization used in road, infrastructure and commercial construction projects. The transaction is valued at $550 million.

The transaction has been approved by the boards of directors of both Commercial Metals Company and TAC Acquisition Corp.

Commercial Metals expects to close the transaction in a timely manner following customary regulatory review and subject to customary closing conditions.