Astec Industries signed an agreement to acquire CWMF Corp., a manufacturer of portable and stationary asphalt plant equipment and parts.
The distribution of CWMF products is primarily concentrated in the Midwest, South-Central and Great Lakes regions.
“The pending CWMF acquisition is consistent with our disciplined growth strategy,” says Jaco van der Merwe, president and CEO of Astec. “Based on the extensive product and manufacturing knowledge of our combined teams, we anticipate integration to be efficient. Our organizations are a strong cultural fit, and we look forward to having the CWMF employees join the Astec team.”
CWMF was established in 1968 with a focus on truck repair and contract hauling. The company completed a 40,000-sq.-ft. shop expansion last year. It was also named the Central Minnesota Manufacturers Association’s Manufacturer of the Year in 2024.
“We anticipate closing on the CWMF acquisition in the first quarter of 2026,” says Brian Harris, CFO of Astec.
