{
  "id": 17795585,
  "title": "Major Drilling acquires Australian mine dewatering contractor for A$70m",
  "url": "https://urgent.news/2026/11/02/major-drilling-acquires-australian-mine-dewatering-contractor-for-a",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T12:20:43.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/company-news/major-drilling-acquires-australian-mine-dewatering-contractor-for-a70m-93CH-4991248"
  },
  "original_language": "en",
  "account": "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.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}