Houlihan Lokey is pleased to announce the sale of the Heavy Civil division of Layne Christensen Company (NASDAQ: LAYN) (Layne) to a newly-formed entity owned by private investors, including the current Heavy Civil senior management team. The transaction is expected to close in May 2017.
Layne's Heavy Civil division is a leading provider of construction services for water and wastewater infrastructure to public and private clients. The division has cultivated a strong reputation in the industry by providing high-quality, customized water infrastructure solutions to some of the industry's largest clients. The Heavy Civil division provides a full suite of construction services to complete essential water and wastewater treatment facilities and pipeline installation projects.
The transaction is subject to certain customary terms and closing conditions.
Layne is a global solutions provider to the world of essential natural resources—water, mineral, and energy. Layne offers innovative, sustainable products and services with a commitment to safety, excellence, and integrity.
Houlihan Lokey served as the exclusive financial advisor to Layne. The transaction highlights Houlihan Lokey's decades-long engineering & construction expertise, dedication to analyzing and executing on value-enhancing strategic alternatives, and commitment to long-standing industry relationships.