Keller Group is to acquire Phi Group, the excavation contractor with offices in Dunfermline, Harrogate and Cheltenham, for an initial £5m. Phi is a specialist contractor offering slope and excavation retaining wall systems to the U.K. construction market. 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, the company said. Chief Executive of Keller Justin Atkinson 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 U.K. and will enable us to take full advantage of future opportunities in this growing sector." [Dow Jones International News]
