DSI Underground Australia signs agreement to acquire Fero Group
Newcastle (Australia), 30 April 2018 – DSI Underground Australia, a subsidiary of the Triton Fund III company DSI Underground, has signed an agreement to acquire Fero Group from the Franco family of Perth. Fero Group is a fully integrated Australian steel manufacturing and anti-corrosion service company and a leading provider of products and services to the oil & gas, mining, civil, marine, commercial, industrial and residential industries. The Franco family has agreed to invest part of the sale proceeds in DSI Underground Holdings S.a.r.l., and will become a shareholder in DSI Underground’s global mining business. Terms of the acquisition have not been disclosed and the transaction is conditional on approval from the Australian Competition and Consumer Commission (ACCC).
“The acquisition of Fero will integrate critical galvanizing and mesh manufacturing processes into DSI Underground Australia’s manufacturing capability, allowing us to better serve customers across Australia, further invest in R&D, and increase exports to African and Asian mining markets,” CEO of DSI Underground Australia, Mr Derek Hird, said.
Michael Reich, Group CEO of DSI Underground International said the aim was to provide customers with a superior, full-service offering; allow for to continued R&D investment; and accelerate the digitalization of products and services which driving rapid changes in the mining and construction sectors.
About DSI Underground
DSI Underground is a system supplier that offers its clients the largest product range of dynamic anchor systems, injection resins, pumpable injection chemicals and forepoling systems globally available. The company supports its customers in reaching a higher level of safety underground.
DSI Underground offers its customers technically sophisticated and reliable solutions, and proactively uses digitalization and Industry 4.0 as an opportunity to deliver trustworthy and innovate solutions. As a global supplier, DSI Underground ensures that its comprehensive service commitment is there for its customers everywhere.
For further information: www.dsiunderground.com
About Fero Group
Fero Group is a fully integrated national steel manufacturing and anti-corrosion service company and a leading provider of products and services to the oil & gas, mining, civil, marine, commercial, industrial and residential industries.
For further information: www.fero.com.au
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 37 companies currently in Triton's portfolio have combined sales of around €14.3 billion and around 91,000 employees.
The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.
For further information: www.triton-partners.com