KLR Keller Group Plc

 
TIDMKLR 
 
For immediate release 
            Monday, 7 January 2013 
 
 
 
 
 
                               Keller Group plc 
 
 
 
           Acquisition of Geo-Foundations Contractors, Inc. (Canada) 
 
 
 
 
 
Keller Group plc ("Keller" or "the Group"), the international ground 
engineering specialist, announces that the Group has acquired Geo-Foundations 
Contractors, Inc. ("Geo-Foundations"), a Toronto-based specialist geotechnical 
contractor. 
 
 
 
The consideration, paid in cash from the Group's existing facilities, was 
C$9.2m (GBP5.7m), including an estimated C$0.6m (GBP0.4m) of acquired net debt. 
 
 
 
Geo-Foundations principally serves eastern Canada, where it offers design-build 
solutions to the construction and mining industries.  It has built a strong 
engineering reputation and has grown its revenue to around C$20m (GBP12.4m) in 
2012. The business specialises in micro-piling, ground anchors, and specialty 
grouting services which, whilst well established in the US, are still 
relatively new to the Canadian market.  A combination of increasing market 
acceptance of these techniques in Canada, along with the introduction of ground 
improvement techniques and assistance from Keller's existing US business, is 
expected to fuel significant growth over time. 
 
 
 
 
 
Commenting on the acquisition, Justin Atkinson, Chief Executive of Keller, 
said: 
 
 
 
"Keller has worked in partnership with Geo-Foundations on a number of projects 
in recent years, building a relationship of mutual respect.   I am confident 
that, together, we are well-positioned to fully exploit the opportunities in 
this attractive market. 
 
 
 
"This acquisition builds on our strong track record of expanding into higher 
growth geographic regions through both organic growth and targeted 
acquisitions." 
 
 
 
 
 
For further information, please contact: 
 
 
 
Keller Group plc                                        www.keller.co.uk 
 
Justin Atkinson, Chief Executive                           020 7616 7575 
 
James Hind, Finance Director 
 
 
 
Finsbury                                                   020 7251 3801 
 
James Leviton/Rowley Hudson 
 
 
 
 
 
Note to Editors 
 
 
 
Keller is the world's largest independent ground engineering specialist, 
providing technically advanced and cost-effective foundation solutions to the 
construction industry. With annual revenue of around GBP1.3bn, Keller has 
approximately 7,000 staff world-wide. 
 
Keller is the market leader in the US and Australia; it has prime positions in 
most established European markets; and a strong profile in many developing 
markets. 
 
 
 
 
 
 
END 
 

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