GR Engineering has agreed to acquire engineering, automation and technological services company Mipac Holdings in an effort to enhance the company’s industry services.
According to GR Engineering, the $21.4 million acquisition will give the company capabilities for standalone process control systems engineering, automation and technology solutions.
GR Engineering managing director Geoff Jones said the acquisition would grow the company.
“Mipac is a highly regarded control systems design engineer and supplier of innovative technology solutions to the mineral processing industry,” he said.
“The acquisition of Mipac is a unique opportunity for GR Engineering to expand the breadth of the group’s offering and to leverage Mipac’s capability as an enhancement to GR Engineering’s existing businesses.”
The Mipac acquisition will also expand the company’s mineral processing design and construction business.
Mipac is an Australian-based company that has operated for almost 25 years with a track record in mine services.
The company previously delivered underground mine infrastructure for Glencore’s Ernest Henry copper mine in Queensland.
GR Engineering stated that Mipac would boost the company’s ability to deliver in-house design, procurement and installation works fro control systems in mineral processing design and construction.
Mipac managing director Eddie De Rivera has welcomed the acquisition.
“The Mipac team is looking forward to contributing to GR Engineering’s vision and strategy, and providing a broader and enhanced offering to the combined customer bases of GR Engineering and Mipac,” he said.
Mipac is expected to deliver $25 million of revenue in the 2021 financial year, with a similar number anticipated for the following period.
The company’s management team will continue their roles following the deal’s completion.
GR Engineering expects the deal to be finalised before the end of May.