IPD Group Limited (IPD) has announced a binding agreement to acquire Platinum Cables Pty Ltd, a leading Australian provider of high-performance cable solutions for the mining and resources sector. IPD is a provider of electrical solutions in energy management and automation, dedicated to enhancing electrical infrastructure. The company focuses on energy efficiency, automation, and secure connectivity, prioritising the safety and wellbeing of people.
The acquisition consideration consists of $37.0 million in cash and $0.5 million in newly issued IPD shares, with a further contingent cash consideration of up to $7.5 million based on EBIT growth through to 31 December 2026. The transaction is primarily funded through cash and debt, utilizing an expanded core debt facility with CBA ($56.1m limit) and a new $10m working capital facility. Completion of the acquisition is expected on 31 December 2025.
Platinum Cables specialises in durable, compliant, and innovative cable products for the mining and resource sectors, supplying power, communication, and optical fibre cables for harsh and remote environments. The company’s FY25 revenue was $44.8m, with an EBITDA of $8.2m (18.2% margin) and an EBIT of $7.2m (16.1% margin). Platinum’s current management team will remain and operate the business as a stand-alone entity under earn-out arrangements.
The acquisition is expected to be approximately 11.5% accretive to IPD’s pro forma FY25 EPS, excluding synergies and one-off transaction costs, and increase the pro forma FY25 EBIT margin to 11.6%. IPD Group CEO Michael Sainsbury commented that the acquisition reinforces IPD’s leadership in the mining sector and delivers immediate earnings accretion for shareholders. An investor conference call will be held on 6th January 2026 to discuss the acquisition.
