2006 Press Releases
10/04/2006
Acquisition of Phi Group Limited
Keller Group plc (“Keller” or “the Group”), the international ground engineering specialist, announces the acquisition of Phi Group Limited (“Phi”).Phi is a specialist contractor offering slope and excavation retaining wall systems to the UK construction market. With expected annual sales of around £10m for the year ended 31 March 2006, Phi is the market leader in crib retaining systems. The total consideration for Phi comprises an initial amount of approximately £5.0m net of cash acquired, with an additional earn-out based on future profits. The business will be integrated with Keller’s existing earth retaining business, under the leadership of John Wilkinson, Phi’s Managing Director. The complementary proprietary systems offered by the two businesses, together with their geographic fit, will give the enlarged business wide national coverage, an extensive range of solutions and greater capacity to undertake major contracts. Commenting on the acquisition, Justin Atkinson, Chief Executive of Keller, said: “We expect continuing cost and environmental pressures to drive a growing demand for earth retention, as an alternative to traditional but more expensive solutions. “The acquisition of Phi positions Keller as the leading provider of earth retention systems in the UK and will enable us to take full advantage of future opportunities in this growing sector.” For further information, please contact: | Keller Group plc | | | Justin Atkinson, Chief Executive | 020 7616 7576 | | James Hind, Finance Director | |  | | | Smithfield | | | Rupert Trefgarne | 020 7360 4900 |
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