StockMarketWire.com - Rock drilling tool specialist Mincon said it had acquired Finland's Lehti for €8m, to further enhance its manufacturing capability in the geotechnical and construction market.

Lehti was already a key manufacturing partner to Mincon, with the latter accounting for about €9m of the projected €13m turnover achieved by Lehti during 2019.

The projected EBITDA of Lehti for calendar 2019 was about €2.2m.

'This acquisition means that Mincon Nordic enters 2020 with the momentum provided by the contracts which we successfully won in 2019 and with superb reference sites for Mincon geotechnical products manufactured by Lehti,' chief executive Joe Purcell said.

'We believe this acquisition will leave Mincon well placed to further expand in the attractive geotechnical market worldwide.'



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