Both companies produce significant value through innovations - including processes and products - and emphasize operational excellence to maximize financial performance.' 'Customer satisfaction is at the center of our operating models, and both organizations are recognized in their markets for delivering value-added solutions in early-stage construction. 'Our core strengths and end markets closely align,' Smith noted. Once complete, this transaction will strengthen CMC's position as a global reinforcement solutions provider, capable of addressing multiple early phases of commercial and infrastructure construction, including subgrade, foundation, and structures.' ' Tensar will create a powerful platform for incremental growth into complementary high-margin engineered products that target CMC's largest core market, construction, serving end-use markets and customer segments where we have strong and existing relationships. Smith, Chairman of the Board, President and Chief Executive Officer of Commercial Metals. 'This compelling acquisition advances CMC's strategy to expand our leadership in construction reinforcement, with value-added products that complement our existing offering,' said Barbara R. The purchase price represents a multiple of 8.4x Tensar's expected 2021 EBITDA, inclusive of clearly executable cost synergies of approximately $5 million. The transaction, valued at $550 million, is subject to customary purchase price adjustments and is not contingent on any financing arrangements. (' Tensar'), a portfolio company of Castle Harlan Inc.'s fund, Castle Harlan Partners V, L.P., and a leading global provider of engineered solutions for subgrade reinforcement and soil stabilization used in road, infrastructure and commercial construction projects. 7, 2021 /PRNewswire/ - Commercial Metals Company (NYSE: CMC) ('CMC') today announced it has entered into a definitive agreement to acquire TAC Acquisition Corp.

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