Arcosa Acquisition, Valuation & Financials

SSAB AB (publ) is a Swedish steel producer specializing in high-strength and specialty steels for applications across industries like automotive, construction, heavy transport, mining, and energy. The company manufactures quenched and tempered steels, high-strength steels, heavy plates, strip products, and tubular goods through divisions including SSAB Special Steels, SSAB Europe, and SSAB Americas, Tibnor and Ruukki Construction with production sites mainly in Sweden, Finland, and the United States, Europe and rest of the world.

voestalpine AG is engaged in the manufacturing, processing and development of steel products. The company is divided into five divisions. The Steel Division is involved in the production of steel products and the casting of large turbines. The High-Performance metals Division provides metals for the automotive, consumer goods, power generation, energy and aviation sectors. The Metal Engineering division produces rails, turnout systems, track-based monitoring systems, specially treated wire and others. The Metal Forming Division provides customized special and precision sections, as well as solutions for systems in the construction, cab construction for commercial vehicles, and aviation sectors; and and Holding & Group Services. The company generates its revenue from the European Union.

IES Holdings Inc owns and manages subsidiaries that design and installs integrated electrical and technology systems and provide infrastructure products and services. It has four business segments; Communications, Residential, Infrastructure Solutions, and Commercial & Industrial. The majority of the revenue for the company is generated from its Residential segment in which the company provides electrical installation services for single-family housing and multi-family apartment complexes, as well as heating, ventilation, and air conditioning (HVAC) and plumbing installation services. This segment also provides services for installing residential solar power, both for new construction and existing residences.

Alpha Dhabi Construction Holding is an Abu Dhabi construction group built around Trojan Construction Holding and its operating subsidiaries. The platform undertakes residential, commercial, institutional, infrastructure, mechanical and facilities projects for developers and government clients. It also controls building-products and specialist contractors that provide concrete, aluminium, timber, modular and electromechanical capabilities. Revenue is generated through construction contracts, project services and the sale of manufactured building components. The group traces its current holding structure to the consolidation of Trojan businesses in 2012 and operates from Abu Dhabi. ADQ acquired a 49% minority position from Alpha Dhabi Holding in September 2024, while the seller retained control of the construction platform. Its integrated capabilities let the group self-perform substantial portions of complex, large-scale projects.

Prescient is a Liberty, Missouri-based manufacturer of prefabricated steel-framed buildings using the patented Unified Truss Construction System. The technology supports structures up to 12 stories for multifamily housing, student dormitories, hotels, and senior living facilities. Cost-competitive with wood framing, Prescient's modules reduce construction time by 50 percent. Founded in 2007, the company has delivered over 20,000 units across the United States.

Stantec Inc is a sustainable engineering, architecture, and environmental consulting company. It offers services through the following business operating units; Environmental Services, Infrastructure, Water, Buildings, and Energy & Resources. Maximum revenue is derived from its Infrastructure business unit, which is engaged in evaluating, planning, and designing infrastructure solutions for transportation, community development, and urban spaces. The company's reportable segments are the United States, which derives maximum revenue, Canada, and Global. These segments provide consulting in engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics services in the area of infrastructure and facilities.

Aecom is one of the largest global providers of advisory, design, and engineering services. It serves a broad spectrum of end markets including water, transportation, and environment. Based in Dallas, Aecom employs 51,000. The company generated $16.1 billion in sales in fiscal 2025.

SPIE SA is a European provider of multi-technical services in electrical, mechanical, and HVAC engineering and communication systems as well as specialized energy-related services. It helps its customers design, build, operate and maintain facilities that are energy-efficient and environmentally friendly. The group structures its activities around operating segments: France, North-Western Europe, Germany, Central Europe, and Global Services Energy. The majority of its revenue is derived from the France segment. It has a geographic presence in Europe, Africa, North, America, Asia-Pacific and Middle East.

Shimizu Corp is a Japan-based company mainly engaged in the construction business. The company operates through Construction, Investment and Development, Road Paving, and Others. It generates the majority of its revenue from the Construction segment. The Construction segment consolidates branches and headquarters engaged in construction activities.

thyssenkrupp AG is a diversified industrial group with steel operations and capital goods and services businesses. Its segment includes Materials Services, Decarbon Technologies, Automotive Technology, Steel Europe, and Marine Systems. Automotive Technology is one of the German suppliers and engineering partners to the international automotive industry. Decarbon Technologies covers the businesses of Rothe Erde, Uhde, Polysius, and the majority investment in thyssenkrupp Nucera. Material Services includes the distribution of mill-independent materials, distributors, and services. Steel Europe concentrates on the market for high-quality flat carbon steel. Marine Systems is a supplier for submarine and surface vessel construction. it generates the majority of Revenue from Materials Services.

IMI PLC is engaged in designing, building, and servicing engineered products in fluid and motion control applications. It develops technologies centered around valves and actuators to improve processes. It focuses on five market sectors: Process Automation, Industrial Automation, Life Science and Fluid Control, Climate Control, and Transport. The company's segments include: i) Automation: The Automation segment provides technologies and solutions for process and industrial automation, and ii) Life Technology: This segment develops technologies used in areas such as climate control, transport, and life sciences. The majority of the company's revenue is derived from the Automation segment. Geographically, it generates the maximum revenue from Europe.

Bharat Forge Ltd is an Indian multinational engaged in metal forging across different industries. The company has the following business units: automotive, power, oil and gas, construction and mining, rail, marine and aerospace. The automotive unit offers products including powertrain components, machines crankshafts, connecting rods, and piston. The Power business unit manufactures components for thermal, wind, hydro and nuclear applications. The Company divides its business into three reporting segments: "Forgings", "Defense", and "Others". The Forgings segment focuses on manufacturing forged components, while the Defense segment centers around defense-related activities. The "Others" segment encompasses all other businesses not covered by Forgings and Defense.

Aptiv PLC is an industrial technology company focused on enabling a more automated, electrified and digitalized future. The company's technologies reach from sensor to cloud, including the hardware and software necessary to support automotive and other industries on a global basis. Its Advanced Safety and User Experience segment provides advanced software and services, intelligent sensors and high-performance compute platforms; its Engineered Components Group segment provides connection systems, high-performance interconnects, and cable management and protection solutions; and its Electrical Distribution Systems segment provides low voltage and high voltage power, signal and data distribution.

Rational specializes in manufacturing automated multifunctional ovens for professional kitchens that replace conventional cooking appliances such as a stove, grill, and oven. Rational has produced over 1 million combi-steamers since its first combi-steamer in 1976, which are used to prepare 160 million food dishes daily. Approximately 72% of group revenue is generated from the sale of cooking appliances, mostly the iCombi Pro that was launched in May 2020 and its predecessor product. Rational has a presence in over 120 countries. The majority of revenue is earned in Europe, followed by North America and Asia.

Advanced Drainage Systems Inc is the manufacturer of water management solutions in the stormwater and onsite septic wastewater industries, providing superior drainage solutions for use in the construction and agriculture marketplaces. Its products are used across a broad range of end markets and applications, including residential, non-residential, infrastructure and agriculture applications. It operates business in three distinct reportable segments: Pipe; International, and Infiltrator. It generates a greater proportion of revenue from its Pipe segment, which consists of Pipe product sales in the United States. The Infiltrator is a provider of plastic leachfield chambers and systems, septic tanks and accessories, for use in residential applications.

Reece is an Australian distributor of plumbing supplies and bathroom products, with businesses in Australia, New Zealand, and the United States. Reece Australia holds Australia’s largest range of individual plumbing stock-keeping units, supporting plumbing needs for general plumbing, bathrooms, kitchens, heating and air conditioning, irrigation, refrigeration, pools, commercial and government projects, and fire services.In the Australia and New Zealand markets, Reece’s trade, customers are mostly small to medium plumbing businesses working in the areas of residential repairs, renovations, or new home builds.The US business principally serves plumbers working on commercial and residential construction projects and has a network of almost 300 stores in the southern Sunbelt states.