ACA - Arcosa agrees to sell storage tanks business for $275M in cash

Arcosa (NYSE:ACA) has agreed to sell its storage tanks business to Black Diamond Capital Management in a $275M cash deal. Subject to regulatory approvals in the U.S. and Mexico and other customary closing conditions, the transaction is expected to close in 2H22. Established in 1933, the storage tanks business manufactures steel pressure tanks for the storage and transportation of propane, ammonia and other gases. Its products are marketed under the Arcosa Tank and TATSA brands. Reported within the company's Engineered Structures segment, the business generated ~$200M in 2021. Commenting on the sale, Arcosa President and CEO Antonio Carrillo stated, "Today’s announcement represents a significant milestone in the advancement of our long-term vision to reduce the complexity of Arcosa's overall portfolio and focus on strategic growth in select markets where we can achieve a sustainable competitive advantage.

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Arcosa agrees to sell storage tanks business for $275M in cash