Keller Group

Keller Group plc (LSE: KLR) is a geotechnical engineering company. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Keller Group plc
TypePublic limited company
IndustryGround engineering
Founded1860 (1860)
HeadquartersLondon, England
Key people
Peter Hill, Chairman
Michael Speakman, CEO
David Burke, CFO
Revenue £2,224.4 million (2021)[1]
£92.8 million (2021)[1]
£62.1 million (2021)[1]
Number of employees
10,000 (2022)[2]
SubsidiariesCyntech,
GEO-Instruments
Suncoast Post-Tension
Moretrench Industrial
Phi Group
Websitewww.keller.com

History

The company was established in the 1950s as the ground engineering division of GKN plc.[3] In 1960, it expanded into a stand-alone piling and ground improvement company and, in 1975, it acquired the German company Johann Keller and took on that name.[3] In 1984 Keller bought Hayward Baker Inc., a US ground engineering business.[4] In 1990 it was the subject of a management buy-out from GKN plc supported by Candover[4] and it was first listed on the London Stock Exchange in May 1994.[5] In 2006, Keller Group acquired Anderson Drilling, the creaters and owners of the Big Stan drilling rig.[6][7] In 2007, the company sold its social housing division for nominal consideration;[8] also in 2007 the company acquired HJ Foundation for £24.5 million.[9] In 2015, Keller acquired Melbourne, Australia-based Austral Construction.[10]

In January 2023, Keller published a profit warning after a "deliberate and sophisticated financial reporting fraud" at Austral Construction. The estimated impact was £6m related to the first half of 2022, and £8m to £10m relating to prior years. Two directors were dismissed as investigations continued,[11] and the company's shares fell 10%.[12]

Operations

Keller operates under three divisions and is supported by its group head office:[13]

  • North America: Bencor, Case Foundation, Hayward Baker, HJ Foundation, Keller Canada, McKinney Drilling, Suncoast, Moretrench. With effect from 1 January 2020, these businesses were all branded as Keller and operate as regional parts of a single company.[14]
  • Europe, Middle East and Africa: Central Europe, North-East Europe, North-West Europe, South-East Europe, Franki, French Speaking Countries, Middle East, Iberia and Latin America, Brazil
  • Asia-Pacific: ASEAN, India, Keller Australia and Austral Construction.[15]
Keller lays foundations for one of Australia's tallest buildings
Keller completes foundation for luxury apartments - Miami

See also

References
  1. "Annual Results 2021" (PDF). Keller Group. Retrieved 29 December 2022.
  2. "About us". Keller Group. Retrieved 29 December 2022.
  3. "Share of the week: Keller Group". The Times. 11 December 2017. Retrieved 23 May 2019.
  4. Brown, G. (2015). The Independent Director: The Non-Executive Director's Guide to Effective Board Presence. Palgrave Macmillan. ISBN 978-1349502691.
  5. "Keller Group". London Stock Exchange. Retrieved 23 May 2019.
  6. "Acquisition of Anderson Drilling". Keller Group plc. Retrieved 2022-09-10.
  7. "Meet Big Stan: Giant Drill Is the Rock Star of the Southwest | 2011-08-08 | ENR | Engineering News-Record". www.enr.com. Retrieved 2022-09-10.
  8. Boyd, Olivia (20 September 2007). "Keller sells social housing business to Mears". Building.
  9. McCulloch, Chloë (2 October 2007). "Keller Group buys US piling contractor for £24.5m". Building. Retrieved 4 August 2019.
  10. "Acquisition of Austral Construction Pty, Limited Australia (2 July 2015)". Keller. Retrieved 9 January 2023.
  11. Morby, Aaron (9 January 2023). "Keller fires two directors after unearthing profit reporting fraud". Construction Enquirer. Retrieved 9 January 2023.
  12. Pitcher, Greg (9 January 2023). "Keller shares plunge after reporting fraud uncovered". Construction News. Retrieved 9 January 2023.
  13. "Worldwide contacts". Keller Group. Retrieved 22 March 2018.
  14. "Keller rebrands North American businesses". The Construction Index. 6 January 2020. Retrieved 6 January 2020.
  15. "Keller to shut loss-making Australian subsidiary". The Construction Index. 1 July 2019. Retrieved 1 July 2019.
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