MML has exited its investment in MineTech via a sale to Dynasafe Area Clearance Group, a portfolio company of German private equity investor Perusa Partners.
Luke Jones, Investment Director at MML, commented: “The sale of MineTech marks the conclusion of our extremely successful investment in FrontierMEDEX. We would like to thank the management and staff of MineTech for their dedication under our ownership and wish them continued success as part of the Dynasafe Group.”
MineTech International provides land mine clearance and explosive ordnance disposal (EOD) services for governments, NGOs such as the United Nations, and private sector businesses within the oil and gas sector.
MineTech was initially part of the Exploration Logistics Group, into which MML invested in December 2010. MML subsequently backed Exploration Logistics to acquire US based MEDEX Global Solutions, and was rebranded as FrontierMEDEX. FrontierMEDEX was sold to a US strategic acquirer in December 2011, although MineTech was retained.