L B Foster : Expands Business with the Acquisitions of VanHooseCo Precast, Skratch Enterprises, and Intelligent Video Ltd.

LB Foster expands business with acquisitions of VanHooseCo Precast, Skratch Enterprises and Intelligent Video Ltd.

Skratch offers a single-point-supply solution model for customers and enables large-scale deployments. Services include design, prototyping and proof of concept, hardware and software, logistics and warehousing, installation, maintenance, content management (CMS) and managed monitoring. The single point solution model provides a streamlined project delivery methodology that reduces complexity for the end user.

IV is a developer of quality surveillance, security and security solutions. They have provided subcontracting services for LB Foster’s Remote Condition Monitoring (RCM) and Inform Visual Communications solutions. IV also provides LB Foster with advanced technical resources to help with a variety of existing and evolving solutions for the business.

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John Kasel, President and Chief Executive Officer of LB Foster Company commented, “These acquisitions fit perfectly within the growth strategy that LB Foster announced in 2021. and allows access to broader target markets in the UK and Europe. IV offers unique expertise and capabilities that will help us expand our technology-driven solution offering.”

VanHooseCo was acquired by LB Foster Company’s wholly owned subsidiary, CXT Incorporated (“CXT”). VanHooseCo specializes in precast concrete walls, water management products and traditional precast products for the industrial, commercial and residential infrastructure markets.

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CXT produces precast concrete parts for industry, agriculture, infrastructure, energy and waste water. They also fabricate precast concrete toilet, shower, concession and storage buildings, as well as storm shelters.

The acquisition of VanHooseCo expands LB Foster’s addressable market to include commercial and residential developers, as well as state and local governments in Tennessee and the surrounding states, and provides a platform for further investment and organic growth in the expanding precast concrete market.

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Kasel stated: “We are excited to take another important step on our transformation journey by connecting VanHooseCo with our market-leading CXT precast concrete business and creating a robust platform for future investment and growth. Throughout the careful process, we were inspired by the entrepreneurial spirit of the VanHooseCo team.”

Complete news releases for the acquisitions of Skratch, IV and VanHooseCo are available on LB Foster’s Investor Relations website.

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