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M&A Deal Summary

Keller Group Acquires RECON

On July 27, 2021, Keller Group acquired construction company RECON from GFI Energy Ventures

Acquisition Highlights
  • This is Keller Group’s 3rd transaction in the Construction sector.
  • This is Keller Group’s 2nd transaction in the United States.
  • This is Keller Group’s 1st transaction in Texas.

M&A Deal Summary
Date 2021-07-27
Target RECON
Sector Construction
Buyer(s) Keller Group
Sellers(s) GFI Energy Ventures
Deal Type Add-on Acquisition

Target

RECON

Houston, Texas, United States
RECON is a private sector environmental remediation and geotechnical construction services company. RECON’s environmental remediation service offering includes: soil treatment, groundwater services, sludge solidification, cap and cell construction and hazardous demolition. The company also performs geotechnical construction services (modifying soil and controlling groundwater). RECON has performed over 2,000 projects throughout its 21-year history and has long histories with international oil and industrial companies as well as major engineering, procurement and construction companies.

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Buyer(S) 1

Buyer

Keller Group

London, United Kingdom
Category Company
Founded 1860
Sector Engineering
Employees10,000
Revenue 3.0B GBP (2024)
DESCRIPTION

Keller Group is an independent ground engineering specialist with unrivalled coverage. Keller Group was founded in 1860 and is based in London, England.

DEAL STATS #
Overall 5 of 5
Sector: Construction M&A 3 of 3
Type: Add-on Acquisition M&A Deals 5 of 5
State: Texas M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-25 North American Caisson

Calgary, Canada

North American Energy Partners’ piling division, known as North American Caisson (NAC).

Buy £202M

Seller(S) 1

SELLER

GFI Energy Ventures

Los Angeles, California, United States
Category Private Equity Firm
Founded 1995
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

GFI Energy Ventures is a specialist private investment firm focused on businesses surrounding the energy industry. GFI generally looks to acquire a controlling or significant interest in private companies or business units of public companies. Energy sub-sectors of interest include power quality/power conversion; energy measurement and control; transmission and distribution optimization; and information systems/transaction support. GFI seeks opportunities with at least $50 million in revenue and valued up to $500 million. The Firm will not invest in start-ups, turnarounds, unproven technology, or investments requiring less than $30 million of equity capital. GFI Energy Ventures was formed in 1995 and is based in Los Angeles, California. GFI Energy Ventures was acquired by Oaktree Capital Management in 2009.

DEAL STATS #
Overall 30 of 30
Sector: Construction M&A 2 of 2
Type: Add-on Acquisition M&A Deals 18 of 18
State: Texas M&A 6 of 6
Country: United States M&A 28 of 28
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-29 CLS Management Services

Sugar Land, Texas, United States

CLS Management Services is an independent provider of the right of way and land management consulting services in the U.S. The Company provides a comprehensive suite of land management services including project management, right of way acquisition, training, staffing, and related field services to both public and private sector clients in the utility, public infrastructure, and energy end-markets. CLS Management Services was founded in 1985 and is based in Sugar Land, Texas.

Sell -
Mergr

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