Major Drilling acquires Bunbury Drilling for up to AUD 70 million

Bitget2026/11/02 12:09

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Major Drilling acquired Australia's Bunbury Drilling Company for up to AUD 70 million (approximately CAD 69 million).
The AUD 50 million upfront cash payment was funded through existing cash and debt facilities.
A three-year earn-out of up to AUD 20 million requires average annual EBITDA of approximately AUD 18 million for full payout.
BDC generated approximately AUD 43 million revenue and AUD 15 million adjusted EBITDA in the year ended June 30, 2026.
The acquisition expands specialized mine dewatering services in Australia and is expected to be immediately accretive to earnings per share.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Major Drilling Group International Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202611020700PRIMZONEFULLFEED9867722) on November 02, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Major Drilling acquires Bunbury Drilling for up to AUD 70 million

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