Irving, Texas-based steelmaker and recycler Commercial Metals Co. successfully completed the acquisition of Alpharetta, Ga.-based TAC Acquisition Corp. (“Tensar”) from Castle Harlan, a New York-based private equity firm, for a cash purchase price of $550 million.
“I am thrilled to welcome Tensar’s 650 worldwide employees to Commercial Metals,” says Barbara Smith, CMC’s chair, president, and CEO. “This acquisition marks another important milestone in CMC’s growth strategy, expanding the scope of products and services we can provide to our customers.”
Tensar is a leading global provider of innovative ground stabilization and soil reinforcement, selling into more than 80 national markets through its two major product lines, Tensar® geogrids and Geopier® foundation systems.
Geogrids are polymer-based products used for ground stabilization, soil reinforcement, and asphalt optimization in construction applications including roadways, public infrastructure, and industrial facilities.
Geopier systems increase the load-bearing characteristics of ground structures and working surfaces. They can be applied in soil types and construction situations in which traditional support methods are impractical or would make a project infeasible.
Photo courtesy of Tensar.