Weir Group to Acquire Mining Tech Company Micromine for $826 Million
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Weir has entered into a binding agreement to acquire Micromine, a company based in Perth, Australia, for $826 million (A$1,310 million).
Micromine is a top-tier global software provider to the mining industry, with comprehensive solutions across the upstream mining value chain. It supports critical mining operations from exploration through mine design and planning, operational scheduling and mining operations in hard ore, soft ore and underground applications.
“The acquisition of Micromine is a significant step in our strategy of investing in technology to accelerate smart, efficient, and sustainable mining. The combined force of Micromine and Weir will create a sector-leading globally scaled platform to optimize performance across the mining process,” said Jon Stanton, CEO, Weir.
“In Micromine, we are adding an established, high-quality business and proven performer that is complementary to Weir’s aftermarket-focused business model and current digital solutions. This acquisition provides a compelling opportunity for strong value creation in the immediate and longer term,” added Stanton.
“The Micromine team are experts in their field and share Weir’s innovative mindset and customer focus. We look forward to welcoming them to Weir and working with them to provide customers with unparalleled technology and insights to enhance their operations,” concluded Stanton.
“We are thrilled that Micromine will be joining the Weir family of businesses which we think is the perfect home for the business. I feel the addition of Micromine’s solutions, in particular its suite of AI offerings, will allow Weir’s customers to rapidly capitalize on their digital futures,” said Andrew Gray, managing partner of Potentia Capital.
Micromine is a leading software provider to the mining industry with comprehensive solutions across the upstream mining value chain from exploration through mine design and planning, operational scheduling and mining operations in hard ore, soft ore and underground applications.
ACCELERATING WEIR’S STRATEGY FOR SUSTAINABLE MINING
Micromine is regarded as one of the most comprehensive dedicated software businesses in the mining industry and brings complementary domain expertise to Weir. Under Weir’s ownership, Micromine will leverage the company’s global direct distribution channels in mining to further accelerate its growth.
The acquisition will ultimately combine with Weir’s MOTION™ and NEXT intelligent solutions and accelerate its vision for a digital platform using data from across the mining value chain to optimize resource planning, mine design and operations, and processing activities. With this acquisition, Weir’s strategy is to become an end-to-end software segment leader in the mining industry with solutions for process optimization and clear competitive differentiation in line with Weir’s existing business model.
INTEGRATION AND LEADERSHIP
The transaction is expected to complete in Q2 2025.
Post completion, Weir intends to initially run Micromine independently, while reporting externally under the ESCO Division. In due course, the company intends to integrate the business with MOTION METRICS™ and NEXT intelligent solutions, to create a combined digital optimization platform.
This business will be led by Kristen Walsh, currently managing director of Minerals Division APAC region, who will join the group executive reporting to Jon Stanton. Andrew Birch, the current CEO of Micromine, will remain with Weir for up to 12 months supporting Kristen in an advisory capacity.
The Weir Group produces and sells highly engineered original equipment worldwide. It operates in two segments, minerals and ESCO. The minerals segment offers engineering, manufacturing, and service processing technology for the use in abrasive high-wear mining applications; and differentiated technology for the use in infrastructure and general industrial markets. The ESCO segment provides ground engaging tools for large mining machines. This segment also offers cloud-based artificial intelligence solutions to the mining industry; manufactures and distributes highly engineered wear parts; and offers aftermarket services to the mining industry.
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