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DSI Australia to acquire Fero Group 03 May 2018

DSI News Release

An agreement has been signed between DSI Underground Australia and Fero Group Pty Ltd for DSI Underground Australia to acquire 100% of the privately owned Fero Group.

With 300 staff, DSI Underground Australia supplies Australian-made strata reinforcement and ground support products essential to safety and efficiency in the underground infrastructure and construction sectors.

“The acquisition of Fero will add galvanizing and mesh manufacturing processes to the DSI Underground Australia manufacturing capability, allowing us to better serve customers, continue to invest in R&D, and increase exports to African and Asian markets,” said Derek Hird, CEO of DSI Underground Australia.

Current owners of Fero, the Franco family based in Perth, have agreed to invest part of the sale proceeds into the parent company of DSI Underground Australia, DSI Underground Holdings Sarl and will become a shareholder in DSI Underground’s global mining business.

“I am pleased that the Franco family will become shareholders in DSI Underground and Fero Managing Director, Michael Franco, will continue to support DSI Underground at an operational level and as an advisor to the global DSI Underground Board. I look forward to welcoming Michael and the Fero team to DSI Underground,” said Michael Reich, Group CEO of DSI Underground International.

“The Franco family look forward to working closely with the DSI team to support the continued growth of the combined businesses and I look forward to becoming part of the DSI global team,” said Michael Franco, Fero Managing Director.

Terms of the acquisition have not been disclosed and the transaction is conditional on regulatory approval.

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