Arcosa to upsize facility, use borrowings to fund Cherry acquisition

By Sarah Lizee

Olympia, Wash., Dec. 13 – Arcosa, Inc. plans to use borrowings under its credit facility to help finance its $298 million acquisition of Cherry Cos., according to a press release.

The company said it is upsizing the facility to supplement remaining liquidity.

The transaction is expected to close in the first quarter of 2020, subject to customary closing conditions.

Dallas-based Arcosa is a growth-oriented manufacturer of infrastructure-related products and services in construction, energy and transportation markets. Cherry is a Houston-based producer of natural and recycled aggregates.

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