Reading, United Kingdom-based Interserve announced Wednesday plans to acquire a portion of US-based CMC Construction Services.
Interserve's equipment services division of the international services, maintenance and building group will acquire the heavy forming and shoring assets, including related distribution centers, of Houston, Texas-based CMC Construction Services, a division of CMC Steel Fabrications, which is a subsidiary of Commercial Metals Company.
The $35 million cash acquisition is the latest step in Interserve's stated strategy of expanding its international growth with a fuller service offering. Additionally, the acquisition will be an opportunity for the company to gain access to the largest construction market in the world via CMC's existing client base and an established sales force, branch and distribution network.