Blog

Jun 06, 2023

The Epiroc evolution

Epiroc acquired 11 companies in 2021 and 2022, expanding its automation, electrification and digitalisation offerings. What’s behind the company’s inspired acquisition strategy? A truly consummate

Epiroc acquired 11 companies in 2021 and 2022, expanding its automation, electrification and digitalisation offerings. What’s behind the company’s inspired acquisition strategy?

A truly consummate business is one that doesn’t settle for the status quo, and it’s the constant desire to push the boundaries and achieve excellence that drives Epiroc forward.

The original equipment manufacturer (OEM) is already one of the mining industry’s key innovators, but as the company evolves it understands that growth isn’t only achieved organically.

As Epiroc realises its future in automation, digitalisation and electrification, it is regularly adding new businesses and capabilities to the fold. The company completed 11 acquisitions in 2021 and 2022, with new additions varying from automation and electrification infrastructure providers to battery conversion specialists and software companies.

Epiroc Australia acquisitions integration project manager George Aslanis said the rapid push to harness new capabilities and technologies underlines the company’s acquisitions strategy.

“The whole aim is to help accelerate our ambitions in those pillars of automation, electrification and digitalisation. That’s what really drives some of these acquisitions that happen locally,” he told Australian Resources & Investment.

“It’s about accelerating our capabilities and assisting customers on that journey to transformation and sustainability. We are focused on collaborating closely with all our customers and partners.”

Late 2022 was an especially busy period.

In December, Epiroc completed the acquisition of leading mining automation solutions provider Remote Control Technologies, which the OEM said would enable it to be the “world-leading automation solutions provider” for not only surface and underground rock drilling but also underground load and haul.

Headquartered in Perth, Remote Control Technologies provides automation and remote-control solutions for single machines or entire mixed fleets regardless of manufacturer or equipment type.

November saw Epiroc complete the acquisition of a 53 per cent stake in Radlink, an Australian company that provides mine sites with wireless connectivity solutions.

“Radlink’s powerful network connectivity solutions will support Epiroc as we continue to provide mining companies with automation and digital solutions that make operations safer and more efficient,” Epiroc president and chief executive officer Helena Hedblom said.

Epiroc’s first Australian acquisition of 2022 was JTMEC, a Perth-based electrification solutions provider for underground and surface mines.

Established in 2005 and home to 190 employees, JTMEC’s offerings include high-voltage installation and maintenance work, transformer servicing and testing, engineering design, feasibility studies, and training.

The company also manufactures electrical products, including substations and mine chargers, and is currently providing services for Australian mining operations such as Olympic Dam and Northparkes.

Aslanis said Epiroc has already received positive feedback from its JTMEC offerings, while inter-business synergies are also taking place.

“We are cross-training staff between JTMEC and Epiroc to support our ambitions,” he said. “We’ve also helped JTMEC secure new business, whereby having the backing of a global company has allowed them to pursue larger opportunities in markets such as tunnelling.

“The JTMEC story has been a successful one so far. They’re supporting their overseas customers and ambitions while also working closely with the relevant division to support our ambitions.

“We’re exploring some exciting opportunities to showcase that Epiroc can be a broader solutions company to the mining industry and beyond.”

While some transactions are completed with a single product in mind, Epiroc’s ability to acquire companies with multiple capabilities is setting the OEM up for success.

This is the case with Remote Control Technologies, Radlink and JTMEC in Australia, while Canadian company FVT Research is quickly enhancing Epiroc’s holistic offerings.

FVT Research designs diesel-to-battery conversion kits and rebuilds mining machines into electric versions.

In 2021, FVT participated in a successful project to convert the diesel-powered Epiroc Scooptram ST1030 loader to battery-electric.

“Bringing the strong team at FVT Research into the Epiroc group fits perfectly into our strategy to provide emissions-free battery-electric vehicles,” Hedblom said.

“Our customers are increasingly discovering the significant benefits that come with using battery-electric vehicles, and FVT Research’s technical expertise and competence will be key assets for Epiroc as we continue to provide more solutions in this area.”

More resource-focused is Epiroc’s acquisition of Perth-based Geoscan, which is known for its flagship offerings, Corescan and Coreshed.

As the demand for minerals increases as the world decarbonises, mines will need to come online faster and more regularly. This means quicker and more accurate geological analysis has never been more important.

Providing a rapid and reliable mineralogical profile of each drill core, Corescan improves mining companies’ decision-making across exploration, resource modelling and ore processing.

This is complemented by Coreshed, which provides an advanced digital core storage, visualisation, management and data integration solution for drill core and other geological samples.

“Mining companies continue to strive for greater orebody knowledge to strengthen productivity and consistency in their operations, and Geoscan’s solutions play a vital role in achieving that,” Hedblom said.

Epiroc’s acquisitions strategy will continue to be based on the pillars of automation, electrification and digitalisation in 2023.

“Epiroc’s ambitions won’t change for acquiring companies,,” Aslanis said.

“The corporate acquisitions team will prioritise it and say, ‘Okay, where are the gaps where we can strengthen our ambitions and capabilities?’.

“We’ve got a lot more strings to our bow than we did this time last year, so that could open up even more doors for us in 2023.

“We know the miners want choice and we can provide a more diverse mix of capabilities. It’s really exciting to see Epiroc growing, becoming more capable and more engaging with our customers.”

This feature appeared in the February issue of Australian Resources & Investment.

2017 SCANIA R620

$129,900

Macksville, NSW

AAA 45' DROP DECK WITH RAMPS AND SPRING SUSPENSION

$64,000

Canning Vale, WA

2018 FUSO CANTER 918 WIDE

$64,990

Albion Park Rail, NSW

RAIN AGAIN TANKS - RAIN WATER TANK - 5000LTR (1100GAL) POLY RAIN WATER TANK AND PUMP COMBO

$1,304

Thabeban, QLD

MITSUBISHI FIGHTER 6.0 FK600

$104,500

Baranduda, VIC

CATERPILLAR CB224E ROLLER

$35,000

Angle Park, SA

2013 DYNAPAC CP274

$94,000

Dubbo, NSW

2008 SULLAIR 750HHA DWQ-CAT

$63,250

Larapinta, QLD

2012 TOYOTA LANDCRUISER WORKMATE 4X4

$49,900

Geelong, VIC

SHANTUI SD32W QUARRY SPEC

$435,600

Archerfield, QLD

2013 KIRPY KIRPY ROCK CRUSHER

$80,000

Port Pirie South, SA

2018 BETTA BILT BUCKETS ROCK BUCKET 30 TONNE

$15,180

Mount Druitt, NSW