Indian explosives and defence manufacturer Solar Industries will acquire South Africa-based Omnia Holdings in an all-cash transaction valued at about $1.36 billion, expanding its presence in the African mining sector.
The acquisition will be carried out through Solar SA Investments, an indirect wholly owned subsidiary of Solar Industries. The unit will acquire all outstanding shares of Johannesburg-listed Omnia, subject to regulatory clearances and approval from Omnia shareholders.
The transaction is expected to significantly expand Solar Industries’ mining-related operations in Africa. The company expects its mining revenue from the continent to increase multiple-fold from FY28 following the acquisition.
Expanding Mining Footprint In Africa
The deal comes as several African economies seek greater investment in mining and critical-mineral production. Zambia, a major copper producer, is among the countries targeting a substantial increase in output amid stronger demand for the metal.
Solar Industries manufactures industrial explosives and initiating systems used across mining, infrastructure and construction. The company also operates in the defence and space sectors and has more than 40 manufacturing facilities globally.
The acquisition of Omnia gives the Indian company access to a business with an established presence across multiple African and international markets.
Omnia Operates Across 23 Countries
Omnia provides products and services to the mining and agriculture sectors. The South African company operates in 23 countries and serves customers across more than 40 countries.
For the financial year ended March 31, Omnia reported revenue of approximately $1.41 billion.
The acquisition represents a major international expansion for Solar Industries and strengthens its exposure to mining markets at a time when investment in mineral production, including minerals required for global industrial and energy supply chains, is expanding across parts of Africa.