Bibby Finance Bibby Finance
Follow us on Twitter Follow us on LinkedIn Follow us on Instagram
Daily construction news
Weekly plant news

Construction News

Thu April 26 2018

Related Information
Related Information
Related Information
Related Information

News » International » Keller explores acquisition of US contractor » published 5 Jan 2018

Keller explores acquisition of US contractor

Keller is in discussions regarding the potential acquisition of a US-based contractor.

Moretrench is an employee-owned geotechnical contracting company operating predominantly along the east coast of the US. Keller is making the announcement about the potential acquisition as the fact that discussions are ongoing is now being communicated to a much wider group of Moretrench employees.

In 2016 Moretrench had revenue of US$170m (£125m), operating profit of US$9.3m and earnings before interest, taxes, depreciation and amortisation (EBITDA) of US$13.9m, excluding US$2.3m of charges relating directly to the employee share ownership plan.

It is envisaged that the acquisition, should it proceed, will be funded wholly in cash using existing borrowing facilities.

“The enlarged entity will represent by far the most capable geotechnical solutions provider on the east coast and will be very well positioned for the expected long run renewal of infrastructure,” said Keller. “In addition, the acquisition gives Keller access to new niche geotechnical products as well as new industrial customers and should have good revenue and cost synergies. Keller and Moretrench have partnered on a number of successful project JVs in the past which gives confidence in the mutual compatibility of culture and management approaches.”

The acquisition remains subject to the satisfactory completion of due diligence.   



Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News & Contract News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.

This article was published on 5 Jan 2018 (last updated on 5 Jan 2018).

More News Channels