IPD Group Limited (IPD), a provider of electrical solutions in energy management and automation, 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. The upfront consideration for the acquisition is $37.5 million, comprising $37.0 million in cash and $0.5 million in newly issued IPD shares. An additional contingent cash consideration of up to $7.5 million may be paid based on EBIT growth through to 31 December 2026. The transaction is expected to be completed on 31 December 2025.
The acquisition will be primarily funded through cash and debt, utilising an expanded core debt facility with CBA ($56.1 million limit) and a new $10 million working capital facility. Platinum Cables’ current management team will remain in place, operating the business as a standalone entity under earn-out arrangements. The acquisition is projected to be accretive to IPD’s FY25 EPS by approximately 11.5%, excluding synergies and one-off transaction costs, and increase the pro forma FY25 EBIT margin to 11.6%.
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. In FY25, Platinum Cables generated revenue of $44.8 million, EBITDA of $8.2 million, and EBIT of $7.2 million. According to IPD, the acquisition of Platinum Cables represents a significant step forward in IPD Group’s growth strategy, strengthening its position within the mining sector and deepening relationships with key customers.
IPD Group CEO Michael Sainsbury stated that the acquisition reinforces IPD’s leadership in the mining sector and delivers immediate earnings accretion for shareholders. Platinum Cables founder and MD David Bambach expressed his anticipation for further growing the Platinum Cables business within the broader IPD Group. IPD’s management team will host an investor conference call in relation to the acquisition on the 6th of January 2026.
