Taft is pleased to have acted as legal counsel to Right Lane Industries (Right Lane) in the sale of TerraSource Holdings LLC (TerraSource) to Astec Industries (Astec) for a purchase price of $245 million.
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, a privately-held industrial holding company focused on corporate carveouts and other complex transactions, acquired a 51% interest in TerraSource from Hillenbrand (NYSE: HI), a global industrial company, in October 2021. Astec (Nasdaq: ASTE) is a leading global manufacturer of specialized equipment for asphalt road building, aggregate processing, and concrete production. Read the release here.
Taft's corporate deal team included Jeffrey Friedman, Payal Keshvani, Bob Cordiak, Akshita Singh, and Amanda Wyatt.