Contech Engineered Solutions announced Oct. 24 that it entered into a definitive merger agreement in which Quikrete Holdings Inc. will acquire all of the outstanding shares of Contech common stock. The transaction has been approved by the boards of directors of both companies. The transaction is subject to customary closing conditions and is expected to close in mid to late November.
“We are pleased to welcome Contech, a leader in infrastructure solutions, to the Quikrete family of companies,” said Will Magill, Quikrete president and COO. “The acquisition of Contech aligns two great companies and will significantly advance our growth strategy.”
Contech is a leading provider of site solution products and services for the civil engineering industry in North America. The Contech portfolio offering includes bridges, drainage, erosion control, retaining walls, sanitary sewer and stormwater products.
“Both Quikrete and Contech have pursued successful strategies to grow their respective businesses and we are excited to bring these two companies together,” said Mike Rafi, Contech’s CEO. “We are highly complementary organizations and our combined value proposition will deliver competitive advantages for our customers.”