Mine Site Technologies Raises Growth Capital to Support Global Expansion and Increased Customer Service Offering
Mine Site Technologies, 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.
