Water Industry News
Christensen buys Reynolds Inc.
Layne said in June that it had agreed to buy Reynolds Inc., an Indiana water services company, in a cash and stock deal valued at more than $100 million. The acquisition would double the size of Layne’s water division.
For the first six months of fiscal 2006, Layne earned $7.28 million, or 56 cents a share, on $202.76 million in revenues. During the first half of last fiscal year, the company reported profits of $5.13 million, or 40 cents a share, on $162.40 million in sales.
Reynolds Inc. offers design and construction services for treatment plants, pump stations, water/wastewater and process pipelines, wells and groundwater source studies, sewer rehabilitation, protective synthetic liners, and concrete forming.
Reynolds, Inc. is an established company whose history goes back nearly 70 years. We are grateful to our many municipal and industrial customers who over the years have entrusted Reynolds, Inc. to develop and construct their water and groundwater systems.