January 5, 2018 / 7:08 AM / a year ago

BRIEF-Britain's Keller Group in talks to acquire U.S. firm Moretrench

Jan 5 (Reuters) - Keller Group Plc:

* POTENTIAL ACQUISITION

* ‍IN DISCUSSIONS TO ACQUIRE MORETRENCH INC., A GEOTECHNICAL CONTRACTING COMPANY OPERATING PREDOMINANTLY ALONG EAST COAST OF US.​

* ‍MORETRENCH HAS A STRONG HERITAGE OF COMPLEX GEOTECHNICAL PROJECTS AND, IN 2016, HAD REVENUE OF US$170M, OPERATING PROFIT OF US$9.3M AND EBITDA OF US$13.9M​

* ‍ACQUISITION, SHOULD IT PROCEED, WILL BE FUNDED WHOLLY IN CASH USING EXISTING BORROWING FACILITIES.​

* ‍ACQUISITION GIVES KELLER ACCESS TO NEW NICHE GEOTECHNICAL PRODUCTS AS WELL AS NEW INDUSTRIAL CUSTOMERS AND SHOULD HAVE GOOD REVENUE AND COST SYNERGIES.​

* ‍ACQUISITION REMAINS SUBJECT TO SATISFACTORY COMPLETION OF DUE DILIGENCE.​ Source text for Eikon: Further company coverage: (Reporting by Ben Martin)

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