New York/London/Luxembourg, August 5, 2024 – Minova, an AURELIUS Private Equity portfolio company, has acquired Itabolt in Brazil, a family-owned manufacturer of special roof support bolts for underground mining founded in 1970. The acquisition further strengthens Minova’s presence in Latin America and will allow the company to expand its share of emerging global metals markets in Brazil, Peru, Colombia and Chile.

Itabolt offers an almost complete high-quality product portfolio, a large area for expansion on its site, and a strong reputation in the local market. The ability of its engineers to develop bespoke products according to customers’ requirements will complement Minova´s offering and provide a competitive advantage in the regional market.

“The acquisition of Itabolt not only allows us to strengthen our activities in the important Latin American market with a local production footprint, but also significantly enhances our capabilities within the Metals segment. Supported by AURELIUS, we aim to further expand in the region and look forward to welcoming Itabolt into the Minova family”, commented Ryan Kerr, CEO of Minova.

Since being backed by AURELIUS, Minova has grown and expanded, successfully integrating the Spain-based steel ground support manufacturing company Bulteck in 2023. With the support of AURELIUS Operations Advisory, the company continues to focus on the Metals, Non-Metals and Infrastructure segments.

“Minova is on an exciting growth trajectory. Itabolt marks the first add-on acquisition in Latin America, and together with Minova´s existing sales offices in Chile & Mexico this will accelerate the expansion in the region. The recent opening of an AURELIUS office in New York means that expertise located in the Americas is available if needed. Going forward, Minova will continue its efforts to assess further M&A potential”, commented Andrzej Cebrat, Managing Director at AURELIUS European Opportunities IV.