Key Developments For Layne Christensen Co
Layne Christensen Co (LAYN.O) (Nasdaq)
Layne Christensen Company Announces Acquisition Of W.L. Hailey & Company, Inc.
Layne Christensen Company announced the acquisition of W.L. Hailey & Company, Inc., a water infrastructure company. Morgan Joseph & Co. Inc. provided investment banking services to W.L. Hailey and served as exclusive sell-side financial advisor to the Company in connection with this transaction. The acquisition purchase price was $15 million and was funded from Layne Christensen's current cash balances and net of cash, Layne Christensen remains debt free.
Layne Christensen Company Announces Acquisition Of Meadors Construction Company
Layne Christensen Company announced the acquisition of Meadors Construction Company. Meadors will be consolidated with Reynolds, Inc., Layne Christensen's heavy/civil construction arm, bringing. The acquisition was funded from Layne Christensen's current cash balances and net of cash. Financial terms were not disclosed.
Tombstone Exploration Corporation Engages Layne Christensen Company For Drilling Program
Tombstone Exploration Corporation announced that it has entered into an agreement with Layne Christensen Company to conduct its drilling program.
Layne Christensen Company Announces Acquisition Of Wittman Hydro Planning Associates
Layne Christensen Company announced the acquisition of Wittman Hydro Planning Associates. The acquisition includes all the assets, the business and certain liabilities of the Company. The purchase price was $2.5 million with the potential for additional incentives if certain financial performance measures are met. It is anticipated that the acquisition will be accretive in fiscal 2009.
Layne Christensen Company Acquires Tierdael Construction Company
Layne Christensen Company announced the acquisition of Tierdael Construction Company. Tierdael 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.
