The acquisition was funded by a €300 million term loan, which was drawn in September.
Metso’s CEO Pekka Vauramo says the balances its traditionally mining-focused minerals portfolio.
“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,” Vauramo adds.
Metso’s president of aggregates equipment business Markku Simula says: “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.”
McCloskey will be reported in Metso’s minerals segment as of Q4 2019.