L.B. Foster Company (NasdaqGS:FSTR) will look for tuck-in acquisitions. William Thalman Chief Financial Officer said during the Fourth Quarter 2023 Earnings Call, "As a reminder, our capital allocation priorities are outlined on Slide 15. We continue to focus on managing our net debt and leverage levels while cautiously investing in organic growth opportunities we see in Rail Technologies and Precast Concrete.

And we will also look for small tuck-in acquisitions that are aligned with our portfolio growth strategy as evidenced by the Cougar Mountain Precast acquisition that was completed in Q4. We are comfortable with gross leverage around 2x and pleased we've achieved this level a little after a year -- a little over for a year after the completion of 2 strategic acquisitions in 2022".