IPD Group Limited (ASX:IPG) is pleased to announce the acquisition of Platinum Cables Pty Ltd, a leading Australian provider of high-performance cable solutions for the mining and resources sector.

The acquisition of Platinum Cables is a significant milestone in IPD Group’s ongoing growth strategy. By integrating Platinum Cables’s highly specialised cable solutions, IPD Group will further strengthen its presence in the mining sector and deepen relationships with key customers.

The acquisition delivers increased technical expertise that will support sustainable expansion in the specialised market segment. The Australian mining and resources sector remains one of the nation’s most critical economic pillars, underpinning domestic industry, export growth and the transition toward a more electrified and energy efficient future.

IPD Group is committed to supporting this essential sector with compliant and innovative electrical solutions. The addition of Platinum Cables increases IPD Group’s ability to meet the specialised needs of mining operations.

IPD Group CEO, Michael Sainsbury, said: “The acquisition of Platinum Cables is a continuation of our growth strategy that reinforces our leadership in the mining sector and delivers immediate earnings accretion for shareholders. The Platinum Cables business is highly complementary to our combined IPD and CMI business units and is leveraged to the same tailwinds, including the electrification of the Australian economy. With their strong track record of organic growth and the potential for significant revenue synergies, we look forward to the Platinum Cables team joining IPD Group.”

Platinum Cables Founder and Managing Director, David Bambach, said: “We look forward to further growing the Platinum Cables business within the broader IPD Group.”

For more information, visit www.ipdgroup.com.au.