Weir Group has announced its agreement to acquire Micromine, a leading mining software provider, for £657 million (A$1.31 billion). This strategic acquisition enhances Weir’s ability to optimize the entire mining value chain, from exploration to operations, with advanced digital solutions.
Expanding Digital Capabilities in Mining
Micromine, headquartered in Perth, Australia, is a well-established software provider offering solutions for mine design, planning, scheduling, and operations across both hard and soft ore mining. With a history of steady growth and a strong SaaS-based revenue model, the company is well-positioned to integrate with Weir’s existing digital ecosystem.
By acquiring Micromine, Weir aims to:
✔ Leverage Micromine’s software expertise to enhance productivity and sustainability in mining.
✔ Expand its digital platform, integrating with Weir’s MOTION METRICS™ and NEXT intelligent solutions.
✔ Accelerate Weir’s goal of becoming a leader in end-to-end digital mining solutions.
A High-Growth, High-Value Business
Micromine has seen remarkable 25% compound annual growth in recent years, with an expected revenue of £68 million in 2025. Notably, 90% of its revenue comes from recurring SaaS subscriptions, making it a stable and highly profitable business.
For Weir, this acquisition is immediately accretive to revenue and margins, with earnings per share (EPS) expected to grow in the first full year of ownership. The return on invested capital (ROIC) is projected to exceed Weir’s weighted average cost of capital (WACC) by 2028.
What’s Next?
The acquisition is expected to close by Q2 2025, pending approval from Australia’s Foreign Investment Review Board (FIRB). Initially, Micromine will operate independently within Weir’s ESCO Division, with plans for a gradual integration.
Following the acquisition:
📌 Kristen Walsh will lead the business as part of Weir’s Group Executive team.
📌 Andrew Birch, Micromine’s CEO, will stay on for up to 12 months to support the transition.
📌 Weir will finance the deal through a combination of cash and new debt, maintaining financial stability with a net debt-to-EBITDA ratio below 2.0x by the end of 2025.
A Transformational Step for Weir
By bringing Micromine into its portfolio, Weir is reinforcing its position as a digital leader in mining, combining software, automation, and real-time data insights. This move aligns with Weir’s broader strategy to enhance efficiency, reduce environmental impact, and drive innovation in the industry.
With this acquisition, Weir is not just buying a company—it’s investing in the future of sustainable and intelligent mining. More Information