IK Investment Partners will sell Magotteaux to Sigdo Koppers, a Chilean mining supply and construction group, for 550 million Euros. Based in Liège, Belgium, Magotteaux supplies wear resistant consumables for crushing, grinding and other comminution processes. IK acquired a majority stake in Magotteaux in 2007. Sigdo Koppers plans to maintain Magotteaux as a stand-alone business, leveraging its strong market position to pursue industry consolidation opportunities.
“We plan, with our own resources, to support Magotteaux’s expansion plans, and to create a worldwide group providing mining and industrial products and services,” said Juan Pablo Aboitiz, CEO, Sigdo Koppers.
This acquisition is subject to customary conditions including anti-trust approval. Founded in 1960, Sigdo Koppers, SA is one of the most important business groups in Chile. Its industrial area consists of companies producing ammonium nitrate and providing rock-breaking services to mining companies.