# Austin Engineering acquires Mainetec for A$19.6 million

Austin Engineering has entered into a binding agreement to acquire Australia-based mining equipment manufacturer Mainetec Pty Ltd for an initial A$19.6 million ($13.4 million), with additional earn-out payments possible. The acquisition adds Mainetec's Hulk range of mining buckets to Austin's offering.

- Type: Acquisition
- Announced: 2022-08-23
- Where: Paget, Queensland, Australia, Australia
- Value: $13.4M (19.6M AUD)
- Status: announced
- Products: mining buckets, dipper buckets, rope shovels
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Austin Engineering](https://endata.com/companies/45113.md) (acquirer)
- [Mainetec](https://endata.com/companies/64880.md) (target)

## Sources

- [im-mining.com](https://im-mining.com/2022/08/23/austin-engineering-to-add-hulk-mining-buckets-to-its-offering-with-mainetec-acquisition/), 2022-08-23: "The acquisition will give Austin access to Mainetec’s Hulk range of high performance mining buckets, increasing the potential customer base in all of Austin’s markets, it said."
- [australianmanufacturing.com.au](https://www.australianmanufacturing.com.au/austin-acquires-mining-equipment-manufacturer-mainetec/), 2022-08-23: "Austin Engineering Limited has reached an agreement to acquire Australian mining equipment manufacturer Mainetec in a deal valued at $19.6 million."
- [miningconnection.com](https://miningconnection.com/surface/news/article/austin_engineering_to_acquire_mining_equipment_company_mainetec_for_19.6_mi), 2022-09-09: "The key benefits of this acquisition for Austin are the ability to expand our mining bucket offering in Australia and then to offer that into our other markets around the world."
- [miningconnection.com](https://miningconnection.com/surface/news_product/P360), 2022-09-23: "Austin Engineering to Acquire Mining Equipment Company Mainetec for $19.6 Million"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.