In recent weeks, Epiroc has completed a steady stream of acquisitions. In May 2024 alone, there are have been four moves aimed at developing and strengthening different areas of the business:
ASI Mining — May 29, 2024
Epiroc agreed to acquire the remaining share of ASI Mining, a U.S.-based autonomous mining solutions company. Epiroc already owns 34% of ASI Mining, which it acquired in 2018. The acquisition regards the remaining 66% of the company.
ASI Mining, based in Mendon, Utah, is a subsidiary of Autonomous Solutions, Inc., a provider of mining automation systems, such as remote control, teleoperation and fully autonomous solutions. Its solutions are OEM agnostic, meaning they work regardless of machine brand and fit well for mixed fleets. The solutions strengthen mine safety and productivity while lowering emissions and total cost of operation.
The acquisition of the remaining share requires regulatory approval from U.S. competition authorities, and is expected to be completed in Q3 2024. The parties have agreed not to disclose the purchase price as the transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.
The transaction will lead to a positive revaluation effect of the ownership held prior to the acquisition in the segment Equipment & Service. The gain will be reported as an item affecting comparability in Q3 2024.
Yieldpoint — May 28, 2024
YieldPointEpiroc
The day prior to its most recent acquisition, Epiroc agreed to acquire the business of Yieldpoint Inc., a Canadian company that provides advanced ground support solutions that strengthen safety for mining and civil engineering applications.
Yieldpoint is based in Kingston, Ontario, Canada, and has about 10 employees. The company designs, manufactures and sells advanced digital geotechnical instruments, and has customers worldwide. The products, which include ground movement sensors and telemetry solutions, are primarily used for underground mining, tunnelling and civil construction applications. Yieldpoint’s solutions help digitalize the ground support and create a safer working environment.
The acquisition is expected to be completed towards the end of Q2 2024. The parties have agreed not to disclose the purchase price as the transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.
ACB+ — May 25, 2024
An ACB+ quick coupler with an Epiroc HB 2000 hydraulic breakerEpiroc
The week prior to its most recent acquisition, Epiroc agreed to acquire ACB+, a manufacturer of attachments and related couplers used by the construction industry.
ACB+ is based in Saint Lager, France, and has several production facilities in the country. It manufactures attachments and quick couplers used on excavators for construction as well as related areas such as scrap recycling and deconstruction. Quick couplers are used with carriers, typically excavators, to enable safe and efficient change of attachments, such as buckets and hydraulic tools.
The company is market leading in France and has customers throughout Europe and has about 140 employees.
The acquisition is expected to be completed in Q3 2024. The parties have agreed not to disclose the purchase price as the transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.
Weco Proprietary Limited — May 3, 2024
Weco’s facility near Johannesburg, South AfricaEpiroc
At the beginning of the month, Epiroc completed the acquisition of the business of Weco Proprietary Limited, a South African manufacturer of precision-engineered rock drilling parts and provider of related repairs and services.
Weco is based near Johannesburg, South Africa. The company, which has more than four decades of industry experience, has about 80 employees. Weco’s customers are mainly underground mining companies in the Southern African region.
Epiroc announced on December 12, 2023, that it had agreed to acquire Weco.
The parties have agreed not to disclose the purchase price as the transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.
Prior to these four May 2024 acquisitions, in April 2024, Epiroc also brought another business into the fold:
STANLEY Infrastructure — April 1, 2024
A STANLEY Infrastructure mobile shear attachment for scrap recycling of the LaBounty brandEprioc
In April, Eprioc completed the acquisition of STANLEY Infrastructure, a global manufacturer of excavator attachments and handheld hydraulic tools, from Stanley Black & Decker, Inc. The strategic acquisition will strengthen Epiroc’s presence in the attachments business in infrastructure and construction, especially in the U.S.
STANLEY Infrastructure, which was a business within Stanley Black & Decker’s Industrial business segment, is headquartered in Milwaukie, Oregon. It designs, manufactures, and sells attachments, typically used on excavators, and handheld hydraulic and battery-powered tools for applications in infrastructure, construction, scrap recycling, demolition and railroad infrastructure.
Its strong and innovative brands include LaBounty, Paladin, Pengo and Dubuis. STANLEY Infrastructure has about 1,380 employees, mainly in the U.S.
The business has 10 key production facilities, in the U.S., Canada, France and China. The vast majority of the revenues are generated in North America.
Epiroc announced Dec. 15, 2023, that it had agreed to acquire STANLEY Infrastructure.
The purchase price is MUSD 760 (SEK 8.2 billion.) The acquisition was an all-cash transaction.
