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Layne Christensen acquires W.L. Hailey & Company

Nov 04, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Company: Layne Christensen Co. (LAYN)

Layne Christensen Company, a provider of drilling and related products and services, has acquired W.L. Hailey & Company, Inc., a provider of water and wastewater infrastructure solutions, for $15 million. Both the companies are based in the US.

Layne has funded the transaction from its current cash balances and net of cash. W.L. Hailey will be added to Layne's heavy/civil construction arm.

Morgan Joseph & Co., Inc. acted as financial advisor to W.L. Hailey for the transaction. 

Deal Value (US$ Million) 15
Deal Type                Acquisition
Sub-Category             Majority Acquisition
Deal Status              Completed: 2009-11-03

Deal Participants 

Target (Company)   W.L. Hailey & Company, Inc.
Acquirer (Company) Layne Christensen Company

Deal Rationale

The acquisition expands Layne Christensen's geographic coverage in its water infrastructure business.

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Company: Layne Christensen Co. (LAYN)


Related terms: acquisition, business, construction, products, water

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