Macquarie Capital has provided Mine Site Technologies, a maker of mining communication networks and products, with growth capital to support the company’s operations. Specifics were not publicized. MST was advised by KPMG Corporate Finance and Minter Ellison. Mallesons Stephen Jaques acted as legal advisor to Macquarie Capital on the transaction.
SYDNEY– Mine Site Technologies (“MST”), a market leader in mining communication networks and products, has raised growth capital from Macquarie Capital (“Macquarie”) to further its significant expansion in the global mining and resources markets. As a result of the investment, Macquarie will become a material shareholder in MST.
MST is a market leader in digital wireless network services and applications for the global underground resources sector. MST’s intrinsically safe (IS) VOIP mine-phone which runs on the MST digital IMPACT network product range, enables two-way wireless VOIP communications, wireless miner tracking and has allowed mines to streamline and centralize numerous systems onto a single digital platform, revolutionising underground communications. The MST digital solution provides an enhanced level of safety for miners and strong productivity improvements. The devices are approved by regulators for use in underground coal mines in the USA, Australia and China and underground hardrock and surface applications globally. MST is also at an advanced stage of gaining regulatory approvals in other key underground coal markets including Africa.
The investment will enable MST to further reinforce its customer service offering in its current core markets of Australia, the United States and Canada and enable further expansion into rapidly growing resources markets including Africa, South America and China. MST has experienced strong growth in recent years and the investment from Macquarie will support the next phase of MST’s continued international and product expansion.
“Macquarie’s investment in MST gives us great confidence in being able to truly position ourselves as the leading global OEM of network and communications infrastructure for the world’s largest mining organisations. It will enable us to continue to roll out our proven sales and service support infrastructure in key markets and expand our sales capabilities to current and new customers across the globe,” said Gary Zamel, Founder and Managing Director of MST.
MST will pursue an expansion strategy that incorporates both organic investment into current core markets and potential acquisitions to build market presence, technology innovation and resource capabilities over the coming twelve to twenty four months.
MST was advised by KPMG Corporate Finance and Minter Ellison. Mallesons Stephen Jaques acted as legal advisor to Macquarie Capital on the transaction.
About Mine Site Technologies
MST is a solutions provider, specializing in the development, supply and support of network equipment, communications hardware, software and services to the global resources sector. The company’s area of expertise is the design, deployment and management of large scale data networks in underground and open pit mines. These networks enable fit for purpose hardware and applications that enable a mine to be safer and more productive.
Mine Site Technologies was established in 1989 and has grown to be the global leader in mining communications for both the underground and surface mining industries. Our technologies are working every day in over 500 mines in Australia, the United States, China, Canada, Peru, Sweden, Finland, Chile, Tanzania, Zambia, Mali and the DRC.
About Macquarie Capital
Macquarie Capital comprises Macquarie Group’s (ASX: MQG, ADR: MQBKY) corporate advisory, capital markets and principal investing capabilities which provides strategic capital to clients to enable them to pursue their growth initiatives. Macquarie Capital’s expertise spans a variety of industry sectors including energy and resources, telecommunications, media, entertainment and technology, financial institutions, industrials, real estate, infrastructure, utilities and renewables. Macquarie Group has more than 15,400 staff across 70 locations around the world.