Epiroc to acquire South African OEM
25 August 2022
Epiroc signed an agreement to acquire AARD Mining Equipment
Epiroc, a productivity and sustainability partner for the mining and infrastructure industries, has signed an agreement to acquire AARD Mining Equipment, a South African mining equipment manufacturer. Terms were not disclosed.
AARD, based near Johannesburg, designs, manufactures, services and supports a wide range of mining equipment, specializing in low-profile underground machines for mines with low mining heights. The products include drill rigs, bolters, loaders, scalers and more. The company’s customers are mainly in the Southern Africa region. AARD has approximately 200 employees and had revenues in the fiscal year ending June 30, 2022, of about MSEK 650.
“AARD has reputable and reliable products that complement our underground product portfolio well,” said Helena Hedblom, Epiroc president and CEO. “This acquisition will further strengthen our growth ambitions in Africa and beyond. We are looking forward to welcoming the great team at AARD to Epiroc.”
“We are excited about the prospect of continuing to grow the business within the Epiroc Group,” said Mike Adendorff, CEO of AARD.
The acquisition is expected to be completed in the next few months, said Epiroc.
AARD was established in 1983 as part of the Boart group of companies and since 2018 has been wholly owned by Matasis Mining Equipment Pty Ltd.