Major Drilling acquires Australian mine dewatering contractor for A$70m

Moncton, New Brunswick - Major Drilling Group International Inc. has made headlines by acquiring Bunbury Drilling Company, a Western Australian mine dewatering drilling contractor. The transaction involves a cash payment of A$50 million with an additional potential earn-out of up to A$20 million over three years, totaling up to A$70 million or approximately C$69 million.

Bunbury Drilling Company, which has operated since 1953, generated A$43 million in revenue and A$15 million in adjusted EBITDA for the year ending June 30, 2026. Their eight specialized drills cater exclusively to senior mining producers in Western Australia. To attain the full earn-out, BDC must maintain an average annual EBITDA of A$18 million during the three-year earn-out period.

This strategic acquisition allows Major Drilling to expand its service offerings to senior companies in a well-established market. Bunbury Drilling Company's management team will retain their positions post-acquisition, with the deal not requiring any regulatory approvals.