Carve-out from Epiroc

Acquisition of Geotechnical drilling consumables from Epiroc

MIMIR INVEST AB, a global investment firm acquiring mature and growing companies, today announces its acquisition of Epiroc AB’s (STO:EPI A) geotechnical consumables product line.

With manufacturing sites in Scotland, Finland and the United States, the geotechnical drilling consumables product line is a global market leader providing primarily down-the-hole hammers and related drill bits and casing advancement systems. Its customers are found in the infrastructure, construction, oil & gas and scientific industries.

“We have found a better home for this business, which we have defined as a non-strategic core area for us.” said Helena Hedblom, Senior Executive Vice President Mining and Infrastructure, Epiroc AB. “We believe it will have a good future with the new owner Mimir”, she continues.

”We are happy partnering with the employees and customers of the business. Combining Mimir’s industrial and investing expertise with the high quality staff, expertise and know-how of the geotechnical consumables business. This combination provides a great foundation for forming a new growing business” said Erik Bork, Managing Partner, Mimir.

“This is our third platform investment over six months, solidifying Mimir’s position as one of the leading investors focusing on acquiring non-core operations of larger corporations in complex transactions. The basis for this investment is the unique management experience and fundamental operating expertise that Mimir brings to its businesses”, says Joakim Notö, Managing Partner, Mimir. “For the first time we will inject the Mimir IOT4 Team to implement actions rapidly digitizing operations, adding additional value and creating shorter time to customer”, he continues.

About Mimir:

Mimir is a global investment firm acquiring non-core business units of larger corporations and private companies that need operationally oriented ownership. We deliver transaction solutions to demanding Sellers in many industries. Our team has specific expertise in manufacturing, industrials, pharma & chemicals, medical devices, software & hardware, and paper & pulp. In addition Mimir maintains an IoT and Industry 4.0 team of experts. The partners of MIMIR combine senior operating backgrounds from a range of industries, with extensive experience from executing complex multijurisdictional M&A transactions. The Mimir Group of companies has combined turnover of more than EUR 300 million.

For any inquiries about the transaction or Mimir, please contact:

Joakim Notö, Managing Partner, M&A, joakim.noto@mimirinvest.com, +46 (0) 739 86 36 37