• Acquisition of leading Australian provider of high-performance cable solutions for mining and resources sector
• $37.5M upfront consideration, with potential $7.5M contingent earn-out
• Acquisition expected to be 11.5% accretive to FY25 EPS

IPD Group Limited ('IPD' or 'the Company') has announced that it has agreed to acquire Platinum Cables Pty Ltd ('Platinum'), a leading Australian provider of high-performance cable solutions for the mining and resources sector. The transaction has a total consideration of $37.5 million upfront, consisting of $37.0 million cash and $0.5 million in newly issued IPD shares, with contingent cash consideration of up to $7.5 million based on EBIT growth through to 31 December 2026. The acquisition will be primarily cash and debt funded, with an expanded core debt facility with CBA ($56.1m limit) and a new $10m working capital facility. The transaction is expected to complete on 31 December 2025. 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 FY25 EPS (excluding synergies and one-off transaction costs), with the pro forma FY25 EBIT margin increasing to 11.6%. Platinum specialises in durable, compliant, and innovative cable products for the mining and resource sectors, with FY25 revenue of $44.8 million, EBITDA of $8.2 million, and EBIT of $7.2 million. The acquisition is expected to strengthen IPD's position within the mining sector, create cross-selling opportunities, and provide additional technical expertise to support sustainable growth.

Pro forma FY25 EPS accretion: ~11.5% (excluding synergies and one-off transaction costs). Pro forma FY25 EBIT margin increases to 11.6%. Total debt drawn at completion will be $48.6m ($37.5m upfront consideration + $11.1m existing debt). Pro forma leverage: ~0.9x gross debt / FY25 EBITDA.

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. The transaction is expected to create meaningful cross-selling opportunities and generate operational efficiencies over time.