Arcosa Inc., a Dallas-based provider of infrastructure-related products and solutions, will acquire Ameron Pole Products LLC from NOV Inc. for $180 million in cash.
Arcosa President and CEO Antonio Carrillo said the acquisition of Ameron is “an excellent strategic fit” as the company continues to “effectively deploy capital into Arcosa’s growth businesses.”
The deal provides entry into the “complementary steel and concrete lighting pole market,” expands Arcosa’s product offerings in traffic and telecom, and bolsters its Engineered Structures segment, he said in a statement, adding that it “increases our exposure to growing infrastructure end markets at an attractive valuation.”
Carrillo looks forward to welcoming the Ameron team to Arcosa and “combining our strengths to accelerate growth.”
In a news release, Arcosa said it expects to fund the $180 million purchase price with a combination of cash on hand and borrowings available under its revolving credit facility. The transaction is expected to close in the second quarter.
Ameron was founded in 1970 and manufactures highly engineered, premium concrete and steel poles for a wide range of infrastructure applications, including lighting, traffic, electric distribution, and small-cell telecom.
With four manufacturing facilities strategically located in Alabama, California, and Oklahoma, Ameron aims to serve its customers with a nationwide presence. For the year ended Dec. 31, 2023, Ameron had revenues of roughly $94 million.
Arcosa is a provider of infrastructure-related products and solutions with leading positions in construction, engineered structures, and transportation markets.
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV said it has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact.
According to the company, the energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition toward a more sustainable future.
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