The purchase price for Reynolds totaled $112.2 million comprised of $60 million in cash and 2.2 million shares of Layne Christensen common stock at a closing price of $23.48 per share. Reynolds will have incentives, which, if achieved, could add an additional $15 million to the purchase price over the next three years. In addition, Jeff Reynolds, president/CEO and grandson of the company founder, has been named a senior vice president of Layne Christensen and was elected to Layne Christensen's board of directors.