Keller announces that it has acquired Austral Construction Pty Limited for an initial cash consideration of A$42m (£20.5m) and a deferred payment of up to A$20m (£9.8m).
Keller, the international ground engineering specialist, announces that it has acquired the entire issued share capital of Austral Construction Pty Limited (”Austral“) for an initial cash consideration of A$42m (£20.5m) and a deferred payment of up to A$20m (£9.8m), dependent on Austral’s EBITDA earned in the three years ending 30 June 2018.
Austral provides piling and civil construction services in the infrastructure and mining sectors. The business has a particular emphasis on near-shore marine work, thus building on Keller’s existing expertise in this market in Australia. Austral is based in Melbourne, Victoria and also has strong relationships with major mining customers in Western Australia, where it is focused on major maintenance projects.
In the year ended 30 June 2014, Austral had revenue of A$76m (£37m) and reported an operating profit of A$10.1m (£4.9m). Austral’s gross assets as of 30 June 2014 totalled A$33.8m (£16.49m).
Alain Michaelis, Chief Executive of Keller, said:
“Austral is a well-run company with good prospects in its own right. The combination with Keller’s existing marine business in Australia gives a truly national footprint and enhances the Group’s ability to compete for large complex projects.”
Notes 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 £1.6bn, Keller has approximately 9,000 staff world-wide.
Keller is the clear market leader in the US and Australia; it has prime positions in most established European markets; and a strong profile in many developing markets.