Triton completes sale of DSI Underground
Luxembourg/Stockholm (Sweden), 7 July 2021 - Funds advised by Triton (“Triton”) have completed the sale DSI Underground, a globally leading system supplier of innovative technologies for Underground Mining and Tunnelling, to Sandvik Group (XSTO:SAND), an engineering group in mining and rock excavation, metal-cutting and materials technology. Sandvik Group acquired 100% ownership of DSI Underground.
Since Triton’s acquisition in 2011, the management and board of DSI Underground have transformed the company into the global leader in safety-related ground support solutions. Under Triton’s ownership DSI Underground increased its geographic footprint by both fostering organic growth as well as a successful buy and build strategy by acquiring 13 highly synergetic businesses.
Moreover, DSI Underground increased its efficiency and profitability by several initiatives, including refocusing the business on to key regions and the attractive hard-rock market, strong focus on cost control, investments into state-of-the-art manufacturing plants with high automation levels, and by accelerating digitization and supporting the DSI Underground ESG initiatives.
Today DSI Underground is the globally leading system supplier of a large range of innovative and mission critical ground support systems such as pumpable injection chemicals, resin capsules, galvanized mesh, dynamic anchor systems and forepoling systems for Underground Mining and Tunnelling. DSI Underground develops, produces and supplies high-quality systems that are tailored to suit the individual requirements of its customers. The company uses the challenges of digitization and “the mine of the future” as an opportunity to ensure sustainability and growth through innovative ideas and concepts.
About DSI Underground
DSI Underground is the world’s leading supplier of ground support products, systems and solutions for the underground mining and tunnelling industry. We are present in 70 countries and employ over 2,000 people, including engineers and technical specialists with in-depth experience of the underground industry.
With market-leading brands covering everything from bolting systems through to injection chemicals and resin capsules, we reinforce mines, tunnels and underground structures, helping our customers advance underground, and advance towards their objectives – safer, faster and more efficiently than ever.
For further information: www.dsiunderground.com
About Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and sustainability. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2020, the Group had approximately 37,000 employees and revenues of about 86 billion SEK in more than 160 countries within continuing operations.
For further information: www.home.sandvik/en/
About Triton
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial & technology, services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
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 improvement and growth.
The 48 companies currently in Triton's portfolio have combined sales of around €17.5 billion and employ around 100,000 employees.
For more information: www.triton-partners.com
