The approximately $52.2 million cash sale of substantially all assets of Dulworth Enterprises Inc.'s residential wastewater precast products and Aeris Aerobics® treatment systems business to CXT Incorporated, a subsidiary of L.B. Foster Company, closed on Oct. 28, 2026, with Market Street Capital serving as exclusive financial advisor to Dulworth. The transaction matters because it pairs a family-founded manufacturer's proprietary aerobic treatment technology with a publicly traded infrastructure products company's precast concrete operations, signaling further consolidation in the residential wastewater sector and offering a template for how family-owned businesses can execute complex liquidity events.
Based in Rice, Texas, Dulworth manufactures precast concrete wastewater solutions for the residential market, including its Aeris Aerobics® line. CXT, a subsidiary of L.B. Foster Company (NASDAQ: FSTR), brings precast concrete capabilities that complement Dulworth's products. The combination could accelerate adoption of Aeris Aerobics® systems by leveraging CXT's manufacturing scale and distribution reach, while giving L.B. Foster a foothold in decentralized residential wastewater treatment—a segment driven by aging septic systems and tightening environmental regulations.
Market Street Capital managed the sale process, engaged prospective buyers, and assisted with negotiations through closing. Dulworth Co-Founder and President Tommy Dulworth credited the firm with guiding the family through the transaction, including coordinating legal counsel, financial information, audits, and due diligence while allowing management to remain focused on business operations. That division of labor is significant for family-owned manufacturers, where management continuity during a sale is often critical to preserving buyer confidence and operational performance.
For Market Street Capital, the mandate demonstrates its ability to execute middle-market transactions in specialized industrial niches. The boutique investment bank combines strategic advisory, capital raising, and public markets expertise, with professionals holding more than 30 years of combined M&A and capital markets experience and representatives in Texas, California, Louisiana, New York, and Switzerland. Details of the transaction are available through https://ibn.fm/l8XMB.
The announcement was distributed through MissionIR, a communications platform within the Dynamic Brand Portfolio at IBN. MissionIR provides wire access via InvestorWire and editorial syndication to 5,000+ outlets, among other services. The deal's completion underscores that even as larger consolidators pursue scale, specialized advisory firms remain central to matching family-owned industrial businesses with strategic buyers.
