Orica to acquire mining technology company GroundProbe for $157m

21 December 2017 (Last Updated December 21st, 2017 12:21)

Explosives and blasting systems company Orica has signed an agreement to acquire GP Holdco (GroundProbe) from Crescent Capital Partners for A$205m ($157.12m).

Orica to acquire mining technology company GroundProbe for $157m
Orica head office. Credit: © Copyright 2017 Orica Limited.

Explosives and blasting systems company Orica has signed an agreement to acquire GP Holdco (GroundProbe) from Crescent Capital Partners for A$205m ($157.12m).

GroundProbe is a provider of critical measuring technologies for the mining sector, offering geotechnical slope stability monitoring for improved mine productivity and safety.

The company’s product offering includes radar and laser-based monitoring systems, along with advanced processing and analytic software.

Orica CEO Alberto Calderon said: “The integration of GroundProbe’s market-leading technologies will further consolidate our position as the industry leader in digitally enabled blasting solutions to the mining industry, and strengthen our existing presence in the large and high growth mining and civil monitoring markets.

“We believe the potential for data-driven improvement in the drill and blast component of the mining value chain is significant.”

“We believe the potential for data-driven improvement in the drill and blast component of the mining value chain is significant.

“By integrating GroundProbe’s capabilities alongside Blast IQ and Nitro Consult, we are able to expand the digital solutions we can offer to help customers improve safety, productivity, and environmental outcomes.”

The acquisition is expected to result in direct synergies to Orica with existing and planned customer solutions, including Blast IQ and Nitro Consult.

Orica noted that GroundProbe’s technologies complement its strategy and customer base.

Subject to customary closing conditions, the deal is expected to be complete in the first quarter of next year.