Irving-based Commercial Metals Company (NYSE: CMC) announced on Monday that it has completed the acquisition of Tensar Corporation from Castle Harlan, a New York-based private equity firm, for $550 million, subject to customary purchase price adjustments, according to a news release.
Tensar provides ground stabilization and soil reinforcement solutions in 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 for projects including roadways, public infrastructure, and industrial facilities.
According to the release, Geopier systems increase the load-bearing characteristics of ground structures and working surfaces and can be applied in soil types and construction situations in which traditional support methods are impractical or would make a project infeasible.
Read the full story at Dallas Business Journal.