Trade Cases
CMC Buys Post-Tension Cable Firm Tendon Systems
March 20, 2023
Commercial Metals Co. (CMC) said it has acquired post-tension cable company Tendon Systems LLC.
Suwanee, Ga.-based Tendon supplies post-tensioning, barrier cable, and concrete restoration solutions in the southeastern US.
CMC said Tendon’s products are used in a variety of construction projects including multi-family residential, parking structures, industrial, and high-rise buildings. The company had revenues of ~$60 million in 2022. Further details of the transaction were not provided.
“This acquisition further advances our leadership position in construction reinforcement, complements our existing position in post-tensioning cable, and provides CMC with additional capabilities to serve our customers,” Barbara R. Smith, CMC chairman, president, and CEO, said in a statement on Monday.
CMC noted that Tendon’s primary offering, post-tension cable, is used in conjunction with rebar.
Irving, Texas-based CMC is a long products steelmaker and scrap recycler. Earlier this month it announced the acquisition of scrap recycler Roane Metals.
By Ethan Bernard, ethan@steelmarketupdate.com
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