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News Release CMC Commercial Metals COMMERCIAL METALS TO ACQUIRE TENSAR CORPORATION • Expands CMC's penetration in engineered construction ground reinforcement • • Exhibit 99.1 Creates significant global growth platform , complementing concrete reinforcement markets and customer segments where CMC has deep , existing relationships Benefits from secular infrastructure spending and environmental trends , superior eco - friendly performance compared to conventional ground reinforcement and soil stabilization methods • Earnings accretive in first year , with attractive through - the - cycle returns projected • $ 550 million transaction value Irving , TX - December 7 , 2021 - Commercial Metals Company ( NYSE : CMC ) ( " CMC ” ) today announced it has entered into a definitive agreement to acquire TAC Acquisition Corp. ( " Tensar " ) , a portfolio company of Castle Harlan Inc.'s fund , Castle Harlan Partners V , L.P. , and a leading global provider of engineered solutions for subgrade reinforcement and soil stabilization used in road , infrastructure and commercial construction projects . The transaction , valued at $ 550 million , is subject to customary purchase price adjustments and is not contingent on any financing arrangements . The purchase price represents a multiple of 8.4x Tensar's expected 2021 EBITDA , inclusive of clearly executable cost synergies of approximately $ 5 million . " This compelling acquisition advances CMC's strategy to expand our leadership in construction reinforcement , with value - added products that complement our existing offering , " said Barbara R. Smith , Chairman of the Board , President and Chief Executive Officer of Commercial Metals . " Tensar will create a powerful platform for incremental growth into complementary high - margin engineered products that target CMC's largest core market , construction , serving end - use markets and customer segments where we have strong and existing relationships . Once complete , this transaction will strengthen CMC's position as a global reinforcement solutions provider , capable of addressing multiple early phases of commercial and infrastructure construction , including subgrade , foundation , and structures . " " Our core strengths and end markets closely align , " Smith noted . " Customer satisfaction is at the center of our operating models , and both organizations are recognized in their markets for delivering value - added solutions in early - stage construction . Both companies produce significant value through innovations - including processes and products - and emphasize operational excellence to maximize financial performance . " Page 1 of 4