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Keller in talks to buy US contractor

NCE stock business

Geotechnical specialist Keller Group is in talks to buy US contracting company Moretrench Inc.

A statement released by Keller said the combined company will be “the most capable geotechnical solutions provider on the east coast” and “well positioned” for the expected long run renewal of infrastructure.

Keller says it will give it access to new niche geotechnical products and new industrial customers. The companies have previously worked together on several joint ventures. 

East coast-based geotechnical contractor Moretrench had a revenue of $170M (£125.6M), an operating profit of £6.9M, and earnings before interest, taxes, depreciation and amortization (EBITDA) of £10.3M in the 2016 financial year. Keller is funding the acquisition in cash by using existing borrowing facilities. 

The acquisition is subject to the regulatory approvals. Keller is expected to make a further announcement in due course.

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