Arcosa, Inc. Announces Completion of Ameron Acquisition

Arcosa, Inc. (NYSE: ACA) (“Arcosa,” the “Company,” “We,” or “Our,”), a provider of infrastructure-related products and solutions, today announced that it has completed the previously announced acquisition of Ameron Pole Products LLC (“Ameron”) from NOV Inc. (NYSE: NOV) for $180 million.

Founded in 1970, Ameron is a leading manufacturer of highly engineered, premium concrete and steel poles for a broad 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 serves its customers with a nationwide presence. For the year ended December 31, 2023, Ameron had revenues of approximately $94 million and Adjusted EBITDA of approximately $20 million.

The acquisition was funded with a combination of cash on-hand and $160 million of borrowings from our revolving credit facility.

Antonio Carrillo, President and Chief Executive Officer, commented, “We are pleased to welcome Ameron and its experienced management team to the Arcosa family. Ameron expands our product offerings in traffic and telecom structures and establishes our foothold in the attractive concrete and steel lighting pole market. This transaction accelerates the long-term growth profile of our Engineered Structures segment, while underscoring our disciplined acquisition strategy. Supported by robust cash flow, we continue to seek attractively-priced, complementary acquisitions that strengthen our position in Arcosa’s higher growth end markets.”

The Company plans to update its full year 2024 revenue and Adjusted EBITDA guidance for the acquisition at the time of the release of its first quarter results.

Weil, Gotshal & Manges LLP served as legal advisor to Arcosa.

Non-GAAP Financial Measures

This press release contains financial measures that have not been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Reconciliations of non-GAAP financial measures to the closest GAAP measure are included in the accompanying table to this release.

About Arcosa

Arcosa, Inc., headquartered in Dallas, Texas, is a provider of infrastructure-related products and solutions with leading positions in construction, engineered structures, and transportation markets. Arcosa reports its financial results in three principal business segments: Construction Products, Engineered Structures, and Transportation Products. For more information, visit www.arcosa.com.