Micromine is a top-tier global software provider to the mining industry, with comprehensive solutions across the upstream mining value chain. It supports critical mining operations from exploration through mine design and planning, operational scheduling, and mining operations in hard ore, soft ore, and underground applications.
A digital optimisation platform to deliver productivity and sustainability in mining
- Micromine brings a proven suite of mission-critical digital solutions from exploration through mine operations.
- Significant opportunity to leverage Weir’s direct global distribution channels to accelerate growth.
- Creates the platform to integrate domain knowledge to optimise the end-to-end mining value chain.
An established top-tier business of scale
- Micromine has a record of delivering consistently high growth, with a revenue CAGR of approximately 25%.
- Industry leading recurring software-as-a-service (SaaS) subscription income approximately 90% of revenue.
- Sector-leading operating margins and cash generation is additive to Weir’s aftermarket-focused model.
A compelling value creation opportunity, immediately accretive to Weir’s growth and margins
- Enterprise value (EV) of £657 million (AUS$1310 million), to be paid in cash; expected to close in 2Q25.
- Approximately 10 times December 2025 EV/revenue and approximately 20 times December 2025 EV/EBITDA excluding synergies.
- EPS expected to be accretive in the first full year of ownership and ROIC >WACC in 2028.
Funding includes a combination of existing cash resources and new debt facilities
- Weir’s net debt at 31 December 2024 was £535 million, reflecting free operating cash conversion of 102%.
- Net debt to EBITDA of 0.7 times at 31 December 2024.
- Post-acquisition, net debt to EBITDA expected to be <2.0 times at December 2025 and <1.5 times by year end 2026.
Jon Stanton, Chief Executive Officer, Weir said:
“The acquisition of Micromine is a significant step in our strategy of investing in technology to accelerate smart, efficient, and sustainable mining. The combined force of Micromine and Weir will create a sector-leading globally-scaled platform to optimise performance across the mining process.
“In Micromine, we are adding an established, high-quality business and proven performer that is complementary to Weir’s aftermarket-focused business model and current digital solutions. This acquisition provides a compelling opportunity for strong value creation in the immediate and longer term.
“The Micromine team are experts in their field and share Weir’s innovative mindset and customer focus. We look forward to welcoming them to Weir and working with them to provide customers with unparalleled technology and insights to enhance their operations.
"Today is an important and exciting day. Combining Weir’s engineering technology expertise and customer networks with Micromine’s leading software solutions and diversified customer base will allow us to further harness digital technology to drive productivity and sustainability for the global mining industry.”