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Commercial Metals Company Acquires Tendon Systems, Llc

PUBLIC · CMCMar 20, 2023•about 3 years ago

Acquiring Company

Commercial Metals

Acquired Company

Tendon Systems

IrvingManufacturingEnergyNatural ResourcesConstructionBuilding Maintenance

Description

Commercial Metals Company (NYSE: CMC) ("CMC") today announced the acquisition of Tendon Systems, LLC ("Tendon"), a leading provider of post-tensioning, barrier cable, and concrete restoration solutions to the Southeastern United States. Tendon's products and services are used in a variety of construction types, including multi-family residential, parking structures, industrial and high-rise buildings. The company's primary offering, post-tension cable, is used in conjunction with rebar in most applications, providing meaningful commercial synergy opportunities to CMC. Tendon had revenues of approximately $60 million in calendar year 2022.

Company Information

Company

Commercial Metals

Location

Irving, Texas, United States

About

Commercial Metals Co. is an Irving-based company that offers products and technologies to meet the critical reinforcement needs of the global construction sector. The company supports construction across a variety of applications, including infrastructure, non-residential, residential, industrial, and energy generation and transmission.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed