DYWIDAG Systems International (DSI) acquires majority stake in specialist mining contractor Drill Tek Injection Systems Ltd.
Strategic investment to capture further growth potential of the mining business
Founders and previous owners Pat Thorpe and Steve Barratt to remain Drill Tek’s General Managers
Munich, February 20th 2012. DSI announces the acquisition of 75% of the shares in Drill Tek Injection Systems Ltd., Chesterfield, United Kingdom. The remaining 25% are held by founders Steve Barratt and Pat Thorpe.
Drill Tek is a mining services contractor offering both contracting services such as roof bolt installation and resin injection as well as product supply for roof support and reinforcement in underground mines. Additionally, the company provides specialist services for tunneling and civil infrastructure construction.
Drill Tek employs approximately 50 highly specialized employees who will continue to drive the company’s successful growth going forward. Previous owners Pat Thorpe and Steve Barratt will remain Drill Tek’s General Managers and minority shareholders. Going forward the Drill Tek business will be known as “DSI Drill Tek”.
Pat Thorpe comments: “We are delighted to team up with DSI who will support us in broadening our product portfolio and thereby offering us new growth opportunities.”
Steven Barratt states: “With DSI on our side, we will be able to increase our ability to support our customers in the UK and to expand into adjacent regions.”
The acquisition represents a strategic investment for the future of DSI’s business and is the first acquisition undertaken since Triton Partners acquired DSI in June 2011.
“With continuing demand for commodities around the globe we see further growth potential for our Mining business and are therefore keen to expand our product portfolio and presence in that sector” said Patrik Nolaker, DSI Group CEO. “We are very glad to have Drill Tek join the DSI organization. It represents an important step for us as it significantly bolsters our Mining business in Europe and globally. Drill Tek’s product application experience will further add to DSI’s technical competence and ability to provide comprehensive product and service packages to our customers. We are looking forward to working with Pat, Steve and all of the Drill Tek team.”