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Keller eyes up US contractor

keller grundbau

Keller has announced it is in discussions to acquire Moretrench Inc - a geotechnical contracting company operating on the east coast of the US. 

In a statement Keller said that Moretrench has ”a strong heritage of complex geotechnical projects”, would allow the company to become “the most capable geotechnical solutions provider” and “will be very well positioned for the expected long run renewal of infrastructure.”

In addition the statement said “the acquisition gives Keller access to new niche geotechnical products as well as new industrial customers and should have good revenue and cost synergies.”

In 2016 Moretrench, which is an employee owned business, saw revenue of US$170M (£125.4M) and an operating profit of £6.9M.

Keller and Moretrench have already partnered on a number of successful project JVs in the past.

If the acquisition proceeds, it will be wholly funded in cash using Keller’s existing borrowing facilities.

Keller will make a further announcement in due course.

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