Swedish giant buys small South African company that made R280 million in a single year
Swedish mining and infrastructure equipment giant, Epiroc AB, has completed the acquisition of Johannesburg-based mining aftermarket company Eventspec Proprietary Limited.
Epiroc completed the acquisition on 4 August 2026.
Eventspec, which was established in 2000, provides aftermarket services for mining equipment, including the manufacture of replacement parts for drill rigs, mine trucks and loaders.
It also carries out machinery rebuilds, repairs and field services. The South African company employs about 125 people and generated approximately R280 million in revenue in 2025.
The transaction followed approval by the Competition Tribunal, which said the deal involves Epiroc subsidiaries Evrypart and Epiroc Holdings South Africa acquiring Eventspec’s business and associated intellectual property.
“Once implemented, Epiroc SPV will exercise sole control of the business, while Epiroc Holdings will solely control the intellectual property,” the Tribunal said.
The approval was subject to public-interest conditions covering ownership, skills development, enterprise and supplier development, socio-economic development, education, and training.
Epiroc is ultimately controlled by Epiroc AB, a Swedish company listed on the Nasdaq Stockholm Stock Exchange.
The group manufactures and supplies equipment and tools for surface and underground mining and construction, and provides aftermarket support services.
The acquisition will be incorporated into Epiroc’s equipment and service business area and recorded under its service revenue stream.
For Epiroc, Eventspec provides an established local operation focused on a part of the mining industry that generates recurring demand.
Eventspec’s capabilities include the design and manufacture of replacement components, repairs and the rebuilding and refurbishment of mining machinery.
Its local presence also gives Epiroc additional engineering and manufacturing capacity in the South African market.
This is particularly relevant to mining companies, where equipment downtime can be costly and specialised components may need to be repaired or replaced quickly.
Having aftermarket capabilities in the country can reduce the need to rely solely on imported parts and services.
Expanding into Africa
The acquisition also strengthens Epiroc’s position in South Africa, which has a substantial mining industry and an established engineering and equipment supply base serving operations elsewhere on the continent.
Epiroc traces its origins to Atlas Copco, which began manufacturing rock-drilling equipment in Sweden in 1905.
Its mining and rock excavation operations were separated from Atlas Copco in 2018, when Epiroc was established as an independent listed company.
The group is headquartered in Nacka, Sweden, and operates internationally across the mining and infrastructure sectors.
It manufactures equipment including drilling rigs, loaders and haulage systems, while also developing automation and electrification technologies for mining.
As of August 2026, Epiroc had a market capitalisation of roughly SEK292 billion to SEK305 billion (R513 billion).
The acquisition was subject to customary regulatory requirements before completion, with Epiroc confirming that the transaction was completed in August.
“This acquisition will be a strong and strategic addition to our manufacturing capabilities and expand our product portfolio of spare parts and related services in the growing and important African region and beyond,”
“We look forward to welcoming the capable team at Eventspec to the Epiroc Group,” said Epiroc president and CEO Helena Hedblom.
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