The approximately $52.2 million cash sale of substantially all assets of Dulworth Enterprises Inc.'s residential wastewater precast products and Aeris Aerobics(R) treatment systems business to CXT Incorporated, a subsidiary of L.B. Foster Company (NASDAQ: FSTR), closed on Oct. 28, 2026, with Market Street Capital serving as exclusive financial advisor to Dulworth. The transaction matters because it consolidates a family-founded, Texas-based manufacturer of precast concrete wastewater solutions with CXT's precast concrete operations, potentially reshaping competitive dynamics in the residential wastewater treatment market and demonstrating how specialized advisory firms can unlock value for closely held businesses.
Dulworth, based in Rice, Texas, built its business around proprietary technology, including the Aeris Aerobics(R) line of aerobic treatment systems. Market Street Capital managed the sale process from start to finish, engaging prospective buyers and assisting with negotiations through closing. The firm's role extended beyond matchmaking: it coordinated legal counsel, financial information, audits and due diligence while allowing Dulworth management to remain focused on day-to-day operations. That division of labor proved critical for a family enterprise navigating a complex, high-stakes transaction.
Dulworth Co-Founder and President Tommy Dulworth credited Market Street Capital with guiding the family through the process, a testimonial that underscores the importance of experienced M&A advisors for owner-operated manufacturers considering exits. For L.B. Foster, the acquisition adds established wastewater treatment products and manufacturing capabilities to its CXT subsidiary, expanding its footprint in a niche with recurring demand tied to residential development and environmental regulation. Investors can review L.B. Foster Company (NASDAQ: FSTR) performance and related market research through MissionIR's platform.
The deal also illustrates the type of transaction Market Street Capital is built to handle. The boutique investment banking and advisory firm combines strategic advisory, capital raising and public markets expertise, with professionals holding more than 30 years of combined M&A and capital markets experience. Its network spans institutional investors, family offices, venture capital firms and lenders, and the firm maintains representatives in Texas, California, Louisiana, New York and Switzerland. Additional information is available at www.marketstreetcp.com.
News of the closing was distributed through MissionIR, a communications platform that helps IR firms syndicate content to raise visibility for private and public companies. MissionIR operates within the Dynamic Brand Portfolio at IBN, a network that provides wire distribution through InvestorWire, editorial syndication to 5,000+ outlets, press release enhancement, social media distribution and tailored corporate communications solutions. The full press release is accessible at https://ibn.fm/l8XMB.
The transaction's significance extends beyond its dollar value. It signals continued appetite among strategic buyers for specialized manufacturing assets in the water and wastewater space, where aging infrastructure and tightening environmental standards drive demand for treatment technologies. For family-owned businesses like Dulworth, the sale offers a template for succession through strategic acquisition, while buyers like L.B. Foster gain ready-made products, manufacturing capacity and market relationships. How effectively CXT integrates Dulworth's Aeris Aerobics(R) technology and residential channel will determine whether the deal delivers the growth its architects envision.
