Announcement regarding DSI's Board of Directors
We are pleased to confirm that the composition of the DSI Board of Directors is now complete, following the recent appointment of Mr. Michael Reich.
The Board now comprises:
Dr Hansgeorg Balthaus - Non-Executive
Mr Stephan Foerschle - Non-Executive (Triton)
Mr Bjorn Killmer - Chairman (Triton)
Mr Nick Moses - Group CFO
Mr Patrik Nolåker - Group CEO
Mr Michael Reich - Non-Executive
Mr Matthew Turner - Non-Executive (Chairman of the HR and Audit Committees)
Dr Balthaus and Mr Turner joined the Board last August after the Triton acquisition. Dr Balthaus is Senior Executive Vice President at Hochtief Solutions AG. Mr Turner was formerly International Head of Global Private Equity at Bank of America Merrill Lynch.
Mr Reich was appointed in April. He is Director of Reich Mining Services Australia and was formerly CEO of Minova.
Patrik Nolåker commented, “DSI now has a really strong Board to oversee its development in the coming years. The external Directors bring a wealth of very relevant industrial and professional experience, which blends extremely well with the perspectives provided by the Triton Board members.”
DYWIDAG Systems International (DSI) acquires majority stake in specialist mining contractor Drill Tek Injection Systems Ltd.
- Strategic investment to capture further growth potential of the mining business
- Founders and previous owners Pat Thorpe and Steve Barratt to remain Drill Tek’s General Managers
Munich, February 20th 2012. DSI announces the acquisition of 75% of the shares in Drill Tek Injection Systems Ltd., Chesterfield, United Kingdom. The remaining 25% are held by founders Steve Barratt and Pat Thorpe.
Drill Tek is a mining services contractor offering both contracting services such as roof bolt installation and resin injection as well as product supply for roof support and reinforcement in underground mines. Additionally, the company provides specialist services for tunneling and civil infrastructure construction.
Drill Tek employs approximately 50 highly specialized employees who will continue to drive the company’s successful growth going forward. Previous owners Pat Thorpe and Steve Barratt will remain Drill Tek’s General Managers and minority shareholders. Going forward the Drill Tek business will be known as “DSI Drill Tek”.
Pat Thorpe comments: “We are delighted to team up with DSI who will support us in broadening our product portfolio and thereby offering us new growth opportunities.”
Steven Barratt states: “With DSI on our side, we will be able to increase our ability to support our customers in the UK and to expand into adjacent regions.”
The acquisition represents a strategic investment for the future of DSI’s business and is the first acquisition undertaken since Triton Partners acquired DSI in June 2011.
“With continuing demand for commodities around the globe we see further growth potential for our Mining business and are therefore keen to expand our product portfolio and presence in that sector” said Patrik Nolaker, DSI Group CEO. “We are very glad to have Drill Tek join the DSI organization. It represents an important step for us as it significantly bolsters our Mining business in Europe and globally. Drill Tek’s product application experience will further add to DSI’s technical competence and ability to provide comprehensive product and service packages to our customers. We are looking forward to working with Pat, Steve and all of the Drill Tek team.”
About Dywidag Systems International
DSI is a global market leader in the area of post-tensioning, geotechnical and strata control systems for applications in the civil engineering, construction and mining industries. The company’s products are mainly used to strengthen concrete, stabilize slopes and support tunnels and underground mines. In addition, DSI is the leader in the concrete accessories markets in France and a major player in Germany as well as the market leader for tunneling accessories in Europe and the US. DSI is owned by TRITON.
About Triton
Triton is an investment firm dedicated to investing in medium-size businesses headquartered in Central and Northern Europe. Triton generally seeks to invest in leading Northern European businesses. These businesses are typically mid-market companies within three sectors: Business Services, Industrials and Consumer / Health.
Contact:
Gerhard Kahr
Marketing Director Communications
E-mail: gerhard.kahr@dywidag-systems.com
DSI sells DSI Norway AS to KB Spennteknikk International AS, Norway
Effective from January 2nd, 2012, DSI sells DSI Norway AS to KB Spennteknikk International AS, Norway.
Headquartered in Skytta, DSI Norway AS has been a part of the DSI Group since its foundation in 1980. Focused on the Scandinavian market, DSI Norway AS has been valued as a partner both by clients and business partners thanks to its know-how and the long-standing experience of its employees.
DSI’s declared objective is to establish itself amongst the leading suppliers in every market it is represented in. Due to a highly fragmented market environment and today’s competitive situation, DSI is expecting DSI Norway AS to not be able to realize future growth perspectives with the desired dynamics.
As a consequence, DSI decided to initiate the sales process for DSI Norway AS, which has been successful on the Scandinavian market for decades. After a preselection of potential candidates KB Spennteknikk International AS proved itself as the best partner for DSI due to complementary technologies and structures. On December 23rd 2011, the contract with KB Spennteknikk International AS as the buyer of DSI Norway AS was signed.
DSI and the new owner have agreed on changing DSI Norway AS’ legal name to Dywidag Norge AS. All of DSI Norway’s employees are going to be taken over into the new company “Dywidag Norge AS” following the change of name. Nothing will change either for clients or suppliers because the experienced team will continue to competently support all clients and business partners.
Furthermore, the co-operation between DSI and KB Spennteknikk International AS will be considerably strengthened by the conclusion of a license agreement. This license agreement also ensures the supply of the new “Dywidag Norge AS” with high quality DYWIDAG geotechnical and post-tensioning products and systems for the Norwegian and Swedish markets.
KB Spennteknikk International AS is a company that is characterized by strong traditions and innovation. It is very suitable as a holding company for DSI Norway AS due to a comparable business culture. We are firmly convinced to have been able to secure the future of DSI Norway AS and its long-standing employees by the successful sale of the company to KB Spennteknikk International AS. We would like to wish DSI Norway AS and all of its employees a successful future and are looking forward to intensifying our business relationship with KB Spennteknikk International AS.
About KB Spennteknikk International AS
As an industrial company, KB Spennteknikk International AS and cooperating daughter companies offers innovative and sophisticated products for all areas of the construction trade. In addition to the manufacturing, supply and installation of its products, it offers comprehensive services to civil engineers, architects, construction companies and building material suppliers.
Further information is available at: www.spennteknikk.no