Weir Group has bolstered its presence in the Canadian mining sector with the acquisition of Carriere Industrial Supply (CIS) for £20mln including debt.
CIS has been the distributor for Weir's mining equipment subsidiary ESCO in Eastern Canada for many years, said the FTSE 250 engineer.
Acquiring the business is part of a strategy to have direct sales channels in major mining markets, Weir added, with CIS having a strong presence in gold, lithium and nickel markets.
Andrew Neilson, president of Weir's ESCO Division said: "The acquisition of CIS aligns with our strategy of providing direct sales and service to our mining customers and builds on our longstanding partnership, while also enhancing our capabilities in underground hard rock mining applications."
Weir added it expects the acquisition will be earnings and margin accretive in its first year of ownership.