Keller has announced that it has completed its buyout of US-based geotechnical contracting business Moretrench.
Keller has said that the acquisition will strengthen its capability as a geotechnical solutions provider on the US east coast in order to benefit from planned infrastructure investment in the region. The company has also said that Moretrench gives it access to new niche geotechnical products as well as new industrial customers and should result in good revenue and cost synergies.
Keller first revealed plans to buy the US$168.3M (£119.7M) turnover business, which it has previously joint ventured with, in early January.
Keller chief executive Alain Michaelis said: “The acquisition of Moretrench is in line with our strategy of growing our product range and building strong customer-focused businesses. I am confident this will be an excellent addition to Keller.
“We know the business well, its people, technologies and geographic focus complement Keller’s existing businesses in the US and there should be good synergies.”