Epiroc to Acquire Canadian Ground Support Business
STOCKHOLM, SWEDEN -- Epiroc, a leading productivity and sustainability partner for the mining and construction industries, has agreed to acquire the business of Yieldpoint Inc., a Canadian company that provides advanced ground support solutions that strengthen safety for mining and civil engineering applications.
Yieldpoint is based in Kingston, Ontario, Canada, and has about 10 employees. The company designs, manufactures and sells advanced digital geotechnical instruments, and has customers worldwide. The products, which include ground movement sensors and telemetry solutions, are primarily used for underground mining, tunneling and civil construction applications. Yieldpoint’s solutions help digitalize the ground support and create a safer working environment.
“Proper ground support is crucial to safe mining and infrastructure operations,” stated Helena Hedblom, Epiroc’s president and CEO. “Yieldpoint’s smart and robust monitoring solutions complement our ground support offering well and expand our portfolio of digital solutions. Together we will offer high-tech ground support solutions that allow customers to operate in a safer environment and spend more time focusing on their operations. We look forward to welcoming the experienced and professional Yieldpoint team to Epiroc.”
The acquisition is expected to be completed towards the end of the second quarter 2024. The parties have agreed not to disclose the purchase price as the transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.
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