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White & Case Advises Metso on Acquisition of McCloskey

Global law firm White & Case LLP has advised Metso Corporation, 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 Canadian mobile crushing and screening equipment manufacturer McCloskey International.

The acquisition is subject to customary closing conditions, including anti-trust approvals. The enterprise value of the transaction is CAD 420 million (€279 million) payable at closing with an additional profitability-based earn-out consideration of up to CAD 35 million (€23 million) for the two-year period after closing.

In the 12-month period ending September 30, 2018, McCloskey had pro forma sales of CAD 464 million (€308 million). It has around 900 employees in Canada, the United States and Northern Ireland.

The White & Case team which advised on the transaction was led by partner Janko Lindros (Helsinki) and included partners Steven Lutt, Henrik Patel (both New York), Helen Levendi and James Dodsworth (both London), local partner Jeremie Jordan (Brussels), counsel Ipek Candan Snyder (New York) and associates Rosalia Matinez Rial, Julianne Prisco, Jaymon Ballew, DeVoia Stewart (all New York), Kate Russell, Wiesia Wagstyl, Oliver Alsop (all London) and Marika Harjula (Brussels).

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