Epiroc Acquires the Canadian Mining Electrification Solutions Provider Meglab

Epiroc Acquires the Canadian Mining Electrification Solutions Provider Meglab

Epiroc has agreed to acquire Meglab, a Canadian company with expertise in providing electrification infrastructure solutions to mines. The solutions support mining customers in their transition to battery-electric vehicles.

Epiroc is committed to providing its full range of mining equipment in battery-electric versions by 2030. The acquisition of Meglab will be an important part of providing the infrastructure needed for mining electrification.

Meglab, based in Val-D’Or, Quebec, Canada, is a technology integrator that designs, manufactures, installs and supports practical and cost-effective electrification and telecommunications infrastructure solutions to customers in several countries. Its products and solutions include system design, substations, switchgears and automation system solutions, enabling the infrastructure needed for mine electrification and equipment charging solutions, as well as for digitalization and automation of operations. Meglab has more than 240 employees and had revenues in 2020 of about C $49 million ($39 million).

“Epiroc is proud to be the leader in providing battery-electric vehicles for the mining industry, improving customers’ work environment and lowering their emissions while increasing their productivity,” says Helena Hedblom, Epiroc’s President and CEO.

“The acquisition of Meglab will strengthen our capacity to provide the infrastructure required as mines transition to battery-electric vehicles.”

The acquisition is expected to be completed in Q2 2021. The purchase price is not material relative to Epiroc’s market capitalization and is not disclosed. The business will become part of Epiroc’s Parts & Services division and will continue to be based in Canada.