The acquisition of Bulteck not only strengthens Minova’s presence in the European market, but also supports our segment growth plans globally. The addition of Bulteck’s brand and products into our portfolio, enables our teams to offer a wider range of innovative ground support solutions for our customers in the underground hard rock and infrastructure sectors.
Bulteck is the first acquisition Minova has made since the business was acquired by the AURELIUS Group in 2022. Minova is actively evaluating several similar add-on opportunities globally, in support of our ongoing expansion into the hard rock mining and infrastructure segments.
Minova’s president and CEO Ryan Kerr said “We are extremely pleased to welcome the Bulteck team into Minova. This strategic acquisition is a natural fit for Minova, supporting our ambitious segment growth and product portfolio expansion plans.”
Bulteck’s managing director Luis Castaño said “The Bulteck team are very excited to be joining the Minova Group of companies increasing our access to Minova’s global infrastructure and customer base that will enable Bulteck to grow within such an important group. The acquisition of Bulteck by Minova is the correct decision for our business.”
Bulteck, founded in 2014, is headquartered in Gijon, Spain, and manufactures expandable friction bolts, friction bolts and steel arches for the underground hard rock and infrastructure markets.
KWM advised Minova and Aurelius with a Corporate/M&A team made up of partner Germán Cabrera, senior associate Gonzalo Fernández and associate Elena Torrecillas.
Squire Patton Boggs advised Breal Zeta CF on the acquisition financing to Minova in relation to the acquisition of Bulteck with a team comprising Banking and Finance partner Manuel Mingot, legal director José Luis Iriarte and associate David Calleja. Breal Zeta CF is a specialist asset-based lender offering structured asset-based lending solutions.