Blair, NE – July 20, 2020
Balmoral Advisors is pleased to announce that CON-E-CO, a subsidiary of Oshkosh Corporation, has been sold to Astec Industries. Balmoral served as financial advisor to Oshkosh Corporation.
Astec Industries (Nasdaq:ASTE) acquired CON-E-CO, a subsidiary of Oshkosh Corporation (NYSE:OSK).
Astec Industries designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities.
Concrete Equipment Company, Inc. (“CON-E-CO”) engineers, manufactures and supports a complete line of portable and stationary concrete batch plants, mixers, material handling systems and dust control. Headquartered in Blair, Nebraska, CON-E-CO serves customers in the construction industry around the world.
Terms of the transaction were not disclosed. Oshkosh Corporation was represented by Balmoral Advisors as sell-side M&A advisor on this transaction.
About Oshkosh Corporation
Oshkosh Corporation is a global Fortune 500 company headquartered in Oshkosh, Wisconsin that designs and manufactures products that are used to build, serve and protect people and communities around the world. Oshkosh provides access equipment, specialty vehicles and truck bodies for the primary markets of access equipment, defense, fire & emergency and municipal, refuse hauling, concrete placement as well as airport services. For more information, visit www.oshkoshcorporation.com.
About Astec Industries, Inc.
Astec Industries, Inc., a NASDAQ-listed public company with headquarters in Chattanooga, Tennessee, is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec’s manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plant, thermal and storage solutions; and Materials Solutions that include aggregate processing and mining equipment. For more information, visit www.astecindustries.com.