Keller has announced that it has bought out Australia-based piling and civil construction specialist Austral Construction in a bid to expand its presence in the near-shore market.
Keller has said that it acquired the entire issued share capital of Austral for an initial cash sum of AUS£42M (£20.5M) with a payment of AUS$20M (£9.8M) depending on the company’s EBITA earned in the three years to June 2018.
The Melbourne-based business is said to provide piling and civil construction services in the infrastructure and mining sectors and also has strong relationships with major mining customers in Western Australia, where it is focused on major maintenance projects.
Commenting on the acquisition Keller chief executive Alain Michaelis said: “Austral is a well-run company with good prospects in its own right. The combination with Keller’s existing marine business in Australia gives a truly national footprint and enhances the group’s ability to compete for large complex projects.”