Keller to acquire contractor Moretrench in $90mn deal
Leading UK construction company Keller has announced that it has successfully completed the acquisition of US geotechnical contractor Moretrench in a $90mn deal.
The finalisation of the deal comes just under four months since the initial announcement was made on 5 January 2018.
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The acquisition will see Keller continuing to diversify its portfolio, with Moretrench's assets set to add to its existing 6,300 contracts globally, continuing to drive the firm's vision of becoming the world leader in geotechnical solutions.
“The acquisition of Moretrench is in line with our strategy of growing our product range and building strong customer-focused businesses,” said Alain Michaelis, CEO of Keller. “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.”
The merger comes after Moretrench and Keller previously successfully partnered on a number of ventures previously, giving confidence and insight into the compability of the two companies and the deal as a whole.