Tag Archives: indurad

PE firm Jolimont on board with indurad radar offering

METS-focused private equity group, Jolimont, has made another investment in the sector, this time putting €4 million ($4.5 million) into RWTH Aachen University spinoff indurad.

Indurad calls itself the global leader in radar-based automation and productivity solutions for mine sites, train loadouts, stockyard equipment and shiploading facilities. Its patented 2D and 3D radar systems are installed at mining operations and ports worldwide to increase ore throughput and minimise downtime and collisions.

Reik Winkel, indurad CEO and co-founder, said: “indurad’s radar solutions remove bottlenecks in the movement of ore from mine to ship to market at a fraction of the cost of building larger facilities.

“Bringing Jolimont on board as shareholders represents a significant step in our strategy to build the company to €50 million in revenue.”

Winkel said the key reason for selecting Jolimont as an investor was their strong network in the mining industry and deep understanding of innovative technologies. Co-Founder Christian Augustin acknowledged the success of Jolimont as an active shareholder in Newtrax, recently acquired by Sandvik, making them “perfect partners” for indurad’s next growth phase.

Jolimont’s Lyle Bruce and Lex McArthur will be joining the indurad Board of Directors.

Bruce is a Partner of RCF Jolimont and was formerly Managing Director of GroundProbe, a leading radar-based rock-slope monitoring provider, from 2003 to 2013. He is Chairman of MineWare, a dragline monitoring software company and Chairman of Blast Movement Technologies, providing solutions that accurately locate ore and waste zones after blasting.

McArthur, a Founding Partner of Jolimont, is also a director of Blast Movement Technologies and is a director of Minnovare, specialising in improving the productivity of underground drilling operations.

McArthur said: “We undertook extensive due diligence on indurad and three things stood out; their best-in-class radar systems, the glowing testimonials from their customers and partners in terms of value delivered, and the high calibre of their engineering and management team.”

indurad was founded in 2008 as a spin-off of RWTH Aachen University, in Germany. It has a team of more than 100 employees globally and offices in Germany, Australia, Canada, USA, Brazil, Chile and South Africa.