Right Lane Industries to sell TerraSource to Astec for $245M

Right Lane Industries has signed an agreement to sell TerraSource to Astec (ASTE) Industries for a purchase price of $245M. TerraSource, headquartered in Saint Louis, is a leading provider of material handling equipment and related aftermarket parts and services for crushing and separating applications globally. Right Lane acquired a 51% interest in TerraSource from Hillenbrand, Inc. in October, 2021, and worked to enhance the scale, profitability and competitiveness of the company. Right Lane combined an aligned management team with targeted operational improvements and transformative acquisitions to create an attractive global business with significant growth prospects, ultimately delivering exceptional value for all stakeholders involved. The transaction is expected to close by July 1, following receipt of customary regulatory approvals and other normal closing conditions. Key Banc Capital Markets advised TerraSource on the transaction, and Taft served as legal counsel.