L.B. Foster buys operating assets of Dulworth Enterprises for $52.2 million

L.B. Foster Company said its wholly owned subsidiary CXT Incorporated acquired substantially all the operating assets of Dulworth Enterprises, a privately held business headquartered in Rice, Texas. The acquisition was completed on October 28, 2026, and was announced the following day. Dulworth specializes in residential wastewater precast products and Aeris aerobic treatment systems.

Under the definitive Asset Purchase Agreement, the company paid approximately $52.2 million in cash, subject to customary indemnification holdbacks. Dulworth is expected to generate about $18 million in annual revenue and an EBITDA contribution, including synergies, of roughly $6.5 million to $7.5 million after integration over 12 to 18 months.

CEO John Kasel said the deal extends the company's growth strategy and combines its residential wastewater portfolio with Dulworth's manufacturing expertise and technology. The company said it had worked with Dulworth's technology through an existing relationship.