Astec Industries, Inc. has entered into a definitive agreement to acquire substantially all of the assets and certain liabilities of Power Flame, Inc. ("PFI"), as the company said in the press release received by Lesprom Network.
The transaction closing is subject to final due diligence and customary closing conditions. The aggregate purchase price for the assets is $43 million dollars, subject to certain closing adjustments.
PFI, based in Parsons, Kansas, manufactures gas, oil and combination gas/oil burners and combustion control systems designed for commercial, industrial and process applications.
Astec Industries, Inc. is a manufacturer of specialized equipment for asphalt road building; aggregate processing; oil, gas and water well drilling; and wood processing.
