Irving-headquartered Commercial Metals Company has acquired Tensar Corporation from New York private equity firm Castle Harlan.
Tensar Corporation is a portfolio company of Castle Harlan’s fund CHP V. The purchase is valued at $550 million, according to a news release.
Headquartered in Georgia, Tensar produces geogrid products and foundation improvement solutions for soil reinforcement in large construction and infrastructure projects. The company serves a variety of markets including ports, public roads, railways, energy, marine and waterways, airports and waste and mining.
“We enjoyed working with Castle Harlan over the seven years we were with them,” Tensar CEO Mike Lawrence said in a statement. “Their advice and guidance proved to be useful to the growth of the company, and they supported us in establishing our industry-leading team of people. We look forward to a strong future in our markets with significant prospects and still many unmet opportunities.”
Read the full story at Dallas Business Journal.