Salt Lake City, Utah June 1, 2006 - Boart Longyear has relocated its global corporate headquarters from Johannesburg, South Africa to Salt Lake City, Utah.
Boart Longyear is a leader in the supply of products, systems and services to the natural resource industry (minerals, energy and water) and the construction and quarrying industries. Its uniqueness centers on the combination of its products and services offerings to provide customers with excellence in four global product groups:
• Drilling services (mining and non mining)
• Exploration drilling tools & equipment
• Rock Drills & Rock Drilling Tools
• Geo-environmental instrumentation, tools & equipment
Boart Longyear, with 2005 sales of over $1 billion, and 7,000 employees worldwide, operates in more than 30 countries, with a strong presence in mining and mineral exploration markets throughout North and South America, Europe, Asia Pacific and Sub-Sahara Africa.
CEO Paul Brunner communicated that, “The decision to move the Boart Longyear headquarters from Johannesburg to Salt Lake City was based on the fact that a large portion of our customer base is located in the Americas. We have operated a regional headquarters and manufacturing plant in Salt Lake City for over 20 years which gives us a head start in strengthening our relationship with the state of Utah and the City of Salt Lake. The international airport and the geographically central location for our mining customer base made Salt Lake an obvious choice for our global headquarters.”
Governor Jon M. Huntsman, Jr., of Utah commented "We welcome the international headquarters of Boart Longyear to the State of Utah. Their long operating history in Utah is an indicator of their confidence in our marketplace and in our local workforce. This headquarters' impact will be a welcome addition to our business community."
Brunner added, “We are looking forward to continued growth, which has averaged 30% a year since 2002. This track record combined with our aggressive growth plans is a good foundation for a long and productive relationship with the state of Utah and the Salt Lake City community.”
Advent International is the majority owner of Boart Longyear, having purchased the company from Anglo American plc in July 2005. Bain Company is Advent International's investment partner.
Advent International is one of the world’s top three global buyout firms, with 14 offices in 14 countries across North America, Latin America, Western and Central Europe, and Asia. Since it’s founding in 1984, Advent has invested in over 500 companies and has helped businesses raise more than $10 billion through public equity and debt offerings. These include over 130 IPOs on major stock exchanges worldwide. In April 2005, Advent closed on its most recent global private equity fund, Advent International GPE V, at €2.5 billion ($3.3 billion), bringing the total cumulative capital raised to $10 billion.
Bain Capital, LLC is a global private investment firm whose affiliates collectively manages several pools of capital including private equity, venture capital, public equity and leveraged debt assets. Currently, Bain Capital’s affiliates have more than $37 billion in assets under management. Since its inception in 1984, Bain Capital’s private equity team has made investments and add-on acquisitions in over 230 companies around the world. Headquartered in Boston, Bain Capital has offices in New York, London, Munich, Tokyo, Hong Kong and Shanghai.
For further information contact:
Jodi Monaco
Director, Corporate Communications
jmonaco@boartlongyear.com
801-972-6430
www.boartlongyear.com
