Equipment producer Sandvik has signed off on an acquisition of ground support company DSI Underground in a EUR 943 million cash deal.
The company, which will be under the umbrella of Sandvik Mining and Rock Solutions, has the world’s most extensive choice of ground support products and systems and offers a complementary lineup, according to Henrik Ager, president of Sandvik Mining and Rock Solutions.
Sandvik president and CEO Stefan Widing called the takeover an important step in its growth ambition.
“DSI Underground’s track record of driving progress and safety in underground operations and its global reach will further strengthen our world-leading market position within mining and rock solutions,” said Widing.
The transaction is expected to close by mid-2021, pending regulatory approvals.
DSI was most recently owned by investment firm Triton.