Churchill Sells Tepsco

FRANKFURT (Reuters) – Bilfinger Berger (GBFG.DE: Quote, Profile, Research), Germany's second largest builder, has bought U.S. industrial services specialist Tepsco from private investor Churchill Equity, it said on Thursday.

Bilfinger Berger's output volume in industrial services on the market in the United States will double to over 350 million euros ($556.9 million) with the acquisition of Tepsco, the company said in a statement.

It did not disclose financial details.

Texas-based Tepsco will generate an output volume of about 180 million euros in the coming year, Bilfinger said.

(Reporting by Nicola Leske)