Boart Longyear, the world’s leading provider of drilling services and products to the mining industry, has announced that a group of institutional investors led by Macquarie Bank Limited will join Advent International and Bain Capital as shareholders of Boart Longyear. The new shareholders will join this October.
Macquarie Bank is an Australian-listed investment bank with over US80$ billion of assets under management, including toll roads, airports, utilities, retirement homes and media assets. Macquarie brings a significant set of new capabilities to Boart Longyear, including its expertise in natural resources investing, its wide geographic scope, its financial market expertise and its deep knowledge of key mining geographies such as Australia and Canada.
Advent International, the global private equity firm, and its investment partner, Bain Capital, acquired Boart Longyear from Anglo-American PLC in July 2005.
Boart Longyear is building a world-class team in order to execute its strategic vision of delivering superior products and services to its customers. Its strategy includes expanding geographically with its mining customers into under-penetrated countries such as Brazil, Russia, and China and diversifying into drilling services for the water, environmental and energy markets.
