Astec Industries is buying a plant automation and data management company in the asphalt industry as part of the company’s “Rock to Road” strategy of servicing the growing road building industry.
The Chattanooga-based asphalt equipment maker announced Wednesday it has reached a definitive agreement to acquire MINDS Automation Group Inc., headquartered in British Columbia, Canada. MINDS develops advanced, customizable plant automation control systems for drum, batch, combo/hybrid hot mix plants, emulsion plants, liquid terminals, silo load-out, ticketing and data management for the asphalt industry.
Terms of the purchase were not announced, but MINDS Inc. has locations in the U.S., United Kingdom, France and Belgium. MINDS CEO Pierre Vidaillac and the leadership team will stay with Astec after the acquisition.
“MINDS technology complements our existing offerings for asphalt production joining Astec Controls and Grathwol Automation as we build out a digital platform across our Rock to Road value chain of products.,” Barry Ruffalo, president and CEO of Astec Industries, said in an announcement of the purchase Wednesday. “Our combined business will provide the knowledge and resources to further invest in industry-leading innovations that drive value for customers and our overall Rock to Road digital platform.”
MINDS has 38 employees and the purchase is expected to close in about two weeks, company spokeswoman Kaycie Williams said.