Keller buys net assets of GeoConstruction from Layne Christensen Company

Engineer Keller Group has agreed to buy the net assets of GeoConstruction Group (Bencor) from Layne Christensen Company for a consideration of about $40m.

Bencor, which is based in Dallas and operates throughout North America, offers diaphragm walls (D-walls), a product often used in major infrastructure projects and which Keller has only been able to give customers in limited supply.

“The acquisition will therefore strengthen Keller's product range and its ability to offer complete packaged solutions both in North America and elsewhere,” Keller said in a statement. “The business will form part of the group's North America division.”

“D-wall projects tend to be large and Bencor has historically worked on less than 10 projects a year. As a result, the size and timing of contracts has an effect on annual revenues, which are typically between $50m to $80m a year.”