Commercial Metals Co. (NYSE:CMC) said Thursday it will buy Concrete Pipe & Precast LLC for $675 million in cash, expanding into the U.S. precast concrete sector with operations across the Mid-Atlantic and South Atlantic regions.
The dealmakers value CP&P at about 9.5 times forecast 2025 EBITDA. That’s about 8.5 times, including tax benefits. CMC said the acquisition will add earnings and free cash flow in the first year, with $5 million to $10 million in projected annual synergies by year three.
