Keller Group plc (LSE:KLR) acquired Remedial Construction Services, L.P. from funds managed by Oaktree Capital Management, L.P. for $38 million on July 13, 2021. Under the terms of the transaction, Keller Group acquired Remedial Construction Services, L.P. for an initial cash consideration of $23 million (£17 million), and on a cash and debt free basis, plus an earn-out consideration relating to certain future contract wins up to 31 December 2022, which is currently estimated to be around $15 million (£11 million), payable at time of project mobilization. The acquisition will be funded from Keller's existing borrowing facilities. For the year ended December 31, 2020, Remedial Construction Services, L.P. reported revenues of $87 million. As at 31 December 2020, Recon had gross assets of $52 million. Acquisition is expected to be earnings accretive in the first full year of ownership. Nick Hasell and Matthew O'Keeffe of FTI Consulting acted as financial advisor for Keller Group plc. Keller Group plc (LSE:KLR) completed the acquisition of Remedial Construction Services, L.P. from funds managed by Oaktree Capital Management, L.P. on July 13, 2021.