Fredericks Michael & Co. (“FM&Co.”) acted as exclusive financial advisor to Metso Corporation (HLSE:METSO) (“Metso”), a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling, and process industries, on its acquisition of McCloskey International Limited (“McCloskey”), a leading mobile crushing and screening equipment manufacturer for the aggregates, mining, and construction sectors in Canada, the United States and the United Kingdom.
“This acquisition is in line with Metso’s profitable growth strategy. It strengthens our aggregates business in key growth areas. The different cycles of aggregates balance our previously more mining focused Minerals portfolio well,” says Pekka Vauramo, Metso’s President and CEO.
“Customers in aggregates and construction have varying business needs. This acquisition supports our expansion plans to approach customers through multiple complementary channels and offerings to meet their diverse needs”, adds Markku Simula, President of the Aggregates Equipment business area in Metso. “Going forward, Metso plans to continue developing the McCloskey brands and distribution channels independent of the Metso channel. Synergies are apart from sourcing mainly revenue related, resulting from the wider offering available to both channels as well as additional crusher equipment, service and consumable sales,” he continues.
About Metso Corporation
Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With its unique knowledge and innovative solutions, Metso helps its customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 3.2 billion in 2018. Metso employs over 14,000 people in more than 50 countries. For more information, visit www.metso.com.
For more information on the transaction, reach out to George Caraberis via caraberis@fm-co.com
