Astec to acquire TerraSource Holdings for $245M in cash-free, debt-free deal

ASTEC INDUSTRIES INC

Total consideration of $245M on a cash-free, debt-free basis, subject to customary purchase price adjustments.
Acquisition funded by new $150M revolver and $350M term loan from Wells Fargo, plus cash on hand.
Closing expected by August 1, 2025, conditioned on HSR clearance and other customary conditions.
Astec required to pay a $15M termination fee if it fails to close when all conditions are met.
TerraSource manufactures material processing equipment for crushing, screening, and separation, complementing Astec's portfolio.

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