Triton to sell DSI Underground to Sandvik
Our owner Triton plans to sell DSI Underground to the Sweden based public listed company Sandvik Group. A Sales and Purchase agreement has been signed and the transaction is expected to close subject to local review, protocols, and regulatory approvals by mid-2021.
DSI Underground will join Sandvik´s Mining and Rock Solutions business area, which supplies equipment, tools, service and support for the mining and construction industries. This includes rock drilling and cutting, loading and hauling, tunneling and quarrying. With the addition of DSI Underground, Sandvik will gain a valuable sales footprint around the globe by adding more than 20+ local production facilities on all continents. With this acquisition Sandvik will be able to offer the industry’s widest range of mining products and solutions with increased resources, expertise, and market reach. DSI Underground builds upon and strengthens Sandvik’s capabilities and solutions in selected key markets.
We are therefore delighted to have found in Sandvik Group a strong and visionary partner who supports DSI Underground in our already initiated path. This is an exciting time and the inclusion of DSI Underground to Sandvik´s Mining and Rock Solutions business area brings many new capabilities and opportunities.
"We would like to thank Triton for all their efforts and support: they have invested and supported us in developing significant value-added measures, for example by streamlining our processes, by taking measures to increase sales, by successfully realigning our product development and by accelerating digitization and supporting our ESG initiatives. Now, we are opening a new chapter. We believe that we have a strong new industrial home in Sandvik, with good growth opportunities and strong product and geographic synergies. Sandvik's strategy is to invest in strong businesses with good growth potential. DSI Underground fits very well with Sandvik Mining and Rock Solutions. With our knowledge of ground support technologies, we can add a valuable and complementary offering to Sandvik Mining and Rock Solutions. On the other hand, we will benefit from the knowledge of the new group and Sandvik’s global customer network. Our customers will continue to receive the products and services at the same high quality with the associated service. At the same time, we will be able to expand our global reach and combine our offering with Sandvik products and services – for the benefit of our customers. My colleagues at DSI Underground are looking very much forward to becoming part of Sandvik”, explains Michael Reich, CEO DSI Underground”.
We are continuing our success story and we would like to thank you for your ongoing support and look forward to continuing to serve your business.
CEO DSI Underground
About DSI Underground
DSI Underground is the world’s leading supplier of ground support products, systems and solutions for the underground mining and tunnelling industry. We are present in 70 countries and employ over 2,000 people, including engineers and technical specialists with in-depth experience of the underground industry.
With market-leading brands covering everything from bolting systems through to injection chemicals and resin capsules, we reinforce mines, tunnels and underground structures, helping our customers advance underground, and advance towards their objectives – safer, faster and more efficiently than ever.
For further information: www.dsiunderground.com