Keller Plans Acquisition of Geotech Contracting Firm
Company in Talks to Buy Moretrench Inc.
Keller Group PLC has announced ongoing discussions to acquire Moretrench Inc., a geotechnical contracting company the serves the East Coast of the United States. At publication time, the deal remained subject to due diligence.
Moretrench is employee-owned, and the announcement came as talks of the potential purchase began to include a wider group of Moretrench employees.
The company, which in 2016 had revenue of $170 million, has a long resume of complex geotechnical projects. It made Engineering News & Record’s 2016 list for specialty contractors in Excavations and Foundations, landing at No. 8. It offers a range of construction and foundations services, from earth retention to grouting and dewatering and deep foundations.
The acquisition would give Keller access to a new array of geotechnical products and industrial customers, and the company said in a release it would result in good revenue and cost synergies. Keller and Moretrench have a history of successful joint projects, and Keller expects that to mean a compatible culture after the acquisitions.
A further announcement was expected following due diligence.
Keller offers the construction and civil engineering sectors a variety of ground engineering services. It has more than $2 billion in annual revenue and about 9,000 employees worldwide. For more information about Keller Group, visit www.keller.co.uk.