Explosives and blasting specialist Orica has secured a deal to acquire GroundProbe from Crescent Capital Partners for $205 million.
Orica believes GroundProbe’s technologies are well aligned with its strategy and customer base, creating direct synergies with existing and planned solutions, including BlastIQ and Nitro Consult.
GroundProbe provides monitoring and measurement technologies for the mining industry. Its radar and laser-based monitoring systems, combined with advanced processing and analytic software, provide miners with geotechnical stability monitoring to improve productivity and safety.
Orica chief executive Alberto Calderon said the integration of GroundProbe’s technologies would further consolidate the company’s position as the industry leader in digitally-enabled blasting solutions to the mining industry.
“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 BlastIQ and Nitro Consult, we are able to expand the digital solutions we can offer to help customers improve safety, productivity and environmental outcomes,” Calderon said.
Orica will fund the acquisition in cash from existing debt facilities. It expects to complete the deal in the first quarter of 2018.