Astec agrees to buy TerraSource for $245.0 million in cash
Astec Industries entered an agreement on April 28, 2025 to acquire 100% of TerraSource Holdings, a Missouri-based maker of material processing equipment and aftermarket parts, for $245.0 million on a cash-free, debt-free basis. Closing depends on customary conditions, including U.S. antitrust waiting periods, and the company has secured $500.0 million in committed senior credit facilities to fund the deal and refinance its existing credit agreement.
Key points
- Total consideration is $245.0 million, subject to a customary purchase price adjustment.
- Commitments from Wells Fargo cover a $150.0 million revolving credit facility and a $350.0 million term loan A.
- Either party may terminate if the deal is not completed by August 1, 2025; Astec would owe a $15 million termination fee in certain cases.
- Closing is subject to HSR antitrust clearance and other customary conditions.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:59 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 02, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.