Aretech buys majority stake in Xcalibur

Multinational engineering company Aretech Solutions is acquiring a majority stake in Xcalibur Airborne Geophysics.

Based in Johannesburg, South Africa, Xcalibur is a supplier ofultrahigh resolution airborne magnetic and radiometric surveys.

The acquisition helps to develop Aretech’s global presence and to expand its fleet of airborne minerals survey equipment.

In a press release, Xcalibur CEO Billy Steenkamp said his company would benefit from the transaction as a division of Aretech.

“Xcalibur will essentially remain a business unit with more capital strength and support from Aretech for growth into other areas, markets and technologies,” he said.