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Keller eyes further acquisitions

Keller has its eye on more acquistions, new chief executive Alain Michaelis has revealed.

Michaelis – who took the helm of the ground engineering specialist in May – said the firm was looking for the right company to buy.

Keller has this year acquired the share capital of Austral Constructions, and reached a conditional agreement to acquire the net assets of the GeoConstruction group of Layne Christensen Company, known as Bencor. Keller bought North American Piling in 2013.

But Michaelis said today that it was far from finished on the acquisition trail.

“Our market share globally is single figures,” he said. “There is a lot of merger and acquisition activity ahead of us if we find the right targets.

“We are well financed in terms of the balance sheet so we feel no strong constraint there. We will look for good quality targets as they come.”

He was speaking after Keller revealed its revenue fell but its pretax profits rose in the first half of this year.

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