Layne Christensen Co. Acquires Wildcat Civil Services
Layne Christensen Co. (Nasdaq:LAYN) has announced the recent acquisition on Feb. 28, 2011, of Wildcat Civil Services, a cured-in-place rehabilitation company based in Kiowa, Colo.
Wildcat provides pipeline rehabilitation services to clients along the Rocky Mountain front range and throughout the mid-central United States. Total 12 months trailing revenue was approximately $16,000,000 and earnings before interest, income taxes and depreciation was approximately $1.5 million. The purchase price was $8.885 million.
Larry Purlee, president of Layne’s full service rehabilitation business, Reynolds Inliner, said, “The Wildcat acquisition joins two cured-in-place lining companies that individually bring added value, but together create significant synergies. Reynolds has the Inliner technology and the capability to perform a variety of other rehabilitative services for clients and Wildcat provides the avenue and added personnel through which we can provide those services to the western United States. The move gets Reynolds Inliner one step closer to nationwide coverage.”
Tim Carroll, manager of Wildcat’s Colorado division, stated “We are excited to become part of the nationally recognized Inliner group. This relationship gives us access to technology and product advances as well as additional resources that can help us improve and expand our cured-in-place pipe and other rehabilitative capabilities.”
Layne Christensen Co. provides products and services for the water, mineral, construction and energy markets.