Keller Group Acquires RECON Services

Keller Group has acquired RECON Services, Inc, a geotechnical and industrial services company headquartered in Houston, Texas, USA, for an initial cash consideration of US$23m (£17m), and an expected earn-out of US$15m (£11m) relating to certain future contract wins.

The acquisition completed on 13 July 2021 and was not subject to any regulatory approvals.

RECON is a specialist geotechnical environmental remediation and industrial services contractor working principally for industrial clients, many in the petrochemical sector, predominantly along the Gulf and East coasts of the United States. Its geotechnical work is focused mainly on the environmental remediation and solidification of soils, whilst its industrial services activities support the specialised needs of the power, mining and manufacturing industries.


The acquisition of RECON is in line with the Group's strategy to be the preferred international geotechnical specialist contractor focused on sustainable markets and attractive projects. Similar to Keller’s existing Florida based Moretrench Industrial business, RECON is focused on environmental remediation activities and the geographic proximity of the two businesses will provide revenue synergies from cross selling opportunities, both between the two businesses and also the Keller Foundations businesses, and some, primarily volume based, cost synergies. The additional revenue synergies provide the opportunity to increase the Group's overall market share in the important Gulf Coast area where Keller has historically been relatively under-represented. RECON will report to John Carpenter, President of Moretrench Industrial, and be integrated into Keller’s North America Division.