Aggregate, barge and utility structures producer Arcosa Inc. has announced a definitive agreement to acquire Ameron Pole Products LLC from Houston-based NOV Inc. The $180 million cash deal involves four Alabama, California and Oklahoma operations offering prestressed concrete or steel poles for a broad range of infrastructure applications, including lighting, traffic, electric distribution, and small-cell telecom.
Ameron Pole Products will join the Arcosa Utility Structures segment, which spans Meyer Utility Structures plus namesake Wind Tower, Telecom Structures and Traffic Structures businesses. Scheduled for a second quarter closing, the NOV transaction coincides with construction of Meyer Utility spun prestressed pole and Arcosa Wind Tower plants in Florida and New Mexico.
“As we continue to effectively deploy capital into growth businesses, we believe Ameron is an excellent strategic fit. It provides entry into the complementary steel and concrete lighting pole market while expanding our product offerings in traffic and telecom,” says Arcosa CEO Antonio Carillo. “The acquisition bolsters our Engineered Structures segment and increases our exposure to growing infrastructure end markets at an attractive valuation. We look forward to welcoming the Ameron team to Arcosa and combining our strengths to accelerate growth.”
Arcosa was formed in 2018 and grew rapidly through several acquisitions. In 2021, it acquired pure-play aggregates producer Southwest Rock Products for $150 million. In 2020, Arcosa acquired natural and recycled aggregates company Cherry Industries for $298 million and recycled aggregates company Strata Materials for $87 million.