Keller Group, the gound engineering specialist, has bought Singaporean foundation contractor Resource Holdings for £30.6m

The price, which includes £2m of debt, could rise by a further £22.4m depending on Resource’s future profit. Keller said the deal for the £52m-turnover company would help its long-term expansion in south-east Asia. Kevin Cammack, an analyst at Cenkos, said: “This deal is typical Keller style: buying a strong local business on the way down at a good price with protection.”