Layne Christensen Co. announced Jan. 17 the acquisition of Tierdael Construction Co., a Denver-based company founded in 1984.
Tierdael Construction is a heavy civil water infrastructure contractor focused mainly in the wet underground utilities market. The purchase price for the acquisition was $6.6 million in cash and the acquisition is anticipated to be accretive in Layne’s fiscal 2009. Tierdael’s projected revenue for fiscal 2009 is approximately $20 million.
Layne Christensen Water and Infrastructure Group president Jeff Reynolds stated, “This acquisition is consistent with the company’s strategy to expand the Reynolds’ infrastructure product lines into new geographic markets and gives us a gateway for these products into the western part of the United States, which is the strongest region for Layne’s water business. Tierdael brings a group of people with proven capabilities in the water infrastructure market.”
Tierdael president James A. Stutler commented, “We are excited to represent Layne’s newest expansion and look forward to new opportunities that it affords our group. The combination of Layne’s national presence and broad water-related products and services combined with our knowledge of the local market will allow us to better serve our customer’s needs and e xpand our geographic reach.”
Layne Christensen Co.’s Water and Infrastructure Group includes a:
• Water resources group that provides single source, full-service capabilities with expertise in geosciences, well drilling, pumping, water transmission infrastructure and water treatment.
• Heavy-civil group, Reynolds Inc., which provides design and construction services for treatment plants, pump stations and pipelines.
• Pipeline rehabilitation group, Reynolds InLiner, that offers municipal and industrial customers a safe, cost-effective and long-term pipeline rehabilitation solution.
• Geoconstruction group, that offers a wide array of soil stabilization services including jet grouting, drilled micro-pile, vibratory ground improvement and construction anchor technologies.
With more than 50 offices throughout the United States, Layne’s Water and Infrastructure Group offers comprehensive, integrated solutions to solve the most demanding needs of its customers. Layne Christensen Co. provides services and related products for the water, wastewater, mineral and energy markets.