Contech announced today that they have entered into a definitive merger agreement in which QUIKRETE Holdings, Inc. will acquire all of the outstanding shares of Contech common stock. The transaction has been approved by the boards of directors of both companies. The transaction is subject to customary closing conditions and is expected to close in mid to late November.
QUIKRETE President and COO Will Magill says, “We are pleased to welcome Contech, a leader in infrastructure solutions, to the QUIKRETE family of companies. The acquisition of Contech aligns two great companies and will significantly advance our growth strategy.”
“Both QUIKRETE and Contech have pursued successful strategies to grow their respective businesses and we are excited to bring these two companies together. We are highly complementary organizations and our combined value proposition will deliver competitive advantages for our customers,” states Mike Rafi, Contech’s Chief Executive Officer.
