• Acquisition of Platinum Cables, a leading Australian provider of high-performance cable solutions for the mining sector
• Strengthens IPD's position within the mining sector and deepens relationships with key customers
• Complementary offerings create cross-selling opportunities and enhance the Group's value proposition

IPD Group Limited ('IPD') has acquired Platinum Cables Pty Ltd ('Platinum'), a leading provider of high-performance power, communication, and optical fibre cable solutions for the mining sector. The total consideration includes an upfront payment of $37.5 million (~5.2x EBIT multiple) consisting of $37.0 million cash and $0.5 million issued in shares, as well as a contingent cash payment up to a maximum of $7.5 million (5x multiple on EBIT growth, ending 31 Dec 2026). The acquisition is expected to be completed on 31 December 2025. The complementary nature of Platinum Cables and IPD Group's respective offerings reinforces IPD's position in the mining sector and strengthens key customer relationships. Current Platinum management will remain with an earn-out incentive, while Platinum will continue to operate as a standalone business. The acquisition will be primarily cash and debt funded via new debt facilities, resulting in very limited shareholder dilution. Platinum Cables is expected to contribute FY25 revenue of $44.8 million, EBITDA of $8.2 million, and EBIT of $7.2 million, with a high EBIT margin of 16.1%. The acquisition is expected to result in pro forma FY25 EPS accretion of ~11.5% (excluding synergies and costs) and increase IPD's pro forma FY25 EBIT margin from 11.1% to 11.5%.

FY25 pro forma revenue of $399.5 million, EBITDA of $54.3 million, and EBIT of $46.1 million. Leverage of ~0.9x gross debt / pro forma FY25 EBITDA.