Private equity group Triton Partners has announced it will sell DSI Underground to Sandvik for $1.15 billion. DSI underground is a provider of products, systems, and solutions used to reinforce underground tunnels, mines, and other underground structures.
Sandvik, which already has a strong presence in the mining and rock solutions business, will massively expand its offerings and physical footprint by acquiring DSI. It will also boost revenues, as DSI is expected to generate over $600 million in revenue in 2020 alone.
DSI Underground’s CEO believes the deal will also generate cross selling opportunities, saying in a statement that “we will be able to expand our global reach and combine our offering with Sandvik products and services – for the benefit of our customers.”