Metso’s acquisition of McCloskey International, the Canada-based mobile crushing and screening equipment manufacturer, has been successfully completed.
Metso said the acquisition expands its offering in the aggregates industry globally, and strengthens its customer reach, especially to the general contractor segment.
“This acquisition is an excellent strategic fit for Metso, because it strengthens our aggregates business and balances our traditionally mining-focused Minerals portfolio,” said Pekka Vauramo, Metso president and CEO.
“With McCloskey as part of Metso, we are also able to better take part in the attractive, long-term growth of the mobile equipment market within the aggregates industry.”
Markku Simula, president of the Aggregates Equipment business area of Metso, commented: “This acquisition expands our offering to new customer segments and application areas.
“McCloskey’s capabilities and technical solutions strengthen our ability to address diverse customer needs through complementary channels and offerings. We are confident that McCloskey will align well with Metso, and we are excited to welcome new colleagues to the Metso family,”
The acquisition was announced in June 2019, and was funded by a €300M term loan, which was drawn in September. McCloskey will be reported in Metso’s Minerals segment as of Q4 2019.
Headquartered in Keene, Ontario, Canada, McCloskey equips and serves the general contractor segment through its distribution network. The company’s sales in fiscal year 2019 (ended 30 September 2019) are expected to be approximately C$500M. McCloskey has approximately 900 employees in Canada, the USA and Northern Ireland.