Recycling Product News Logo

This ad will close in 15 seconds

Metso acquires McCloskey

0162/40348_en_2161f_42972_mccloskey-j35-compact-crusher-metso-purchase.jpg

Company info

20965 Crossroads Circle
Waukesha, WI
US, 53186

Website:
metso.com

Read more

1 McCloskey Road
Keene, ON
CA, K9J 0G6

Website:
mccloskeyinternational.com

Read more

Metso has signed an agreement to acquire McCloskey International, a Canadian mobile crushing and screening equipment manufacturer, to expand Metso's offering in the aggregates industry globally and to strengthen the customer reach especially to general contractor customers.

The mobile aggregate equipment market is expected to grow by 4-6% annually during 2019-2023, driven by the underlying road construction spend. With this acquisition Metso will be able to better take part in the attractive growth o fmobile products within the aggregates industry.

"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 area part 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.

In the 12-month period ending September 30, 2018, McCloskey had pro forma sales of CAD464 million (EUR 308 million) and a pro forma EBITDA margin of 10.3%. The company's strong track record of profitable growth over the past several years is expected to continue in 2019. The company's sales in the fiscal year ending September 30, 2019, are expected to exceed CAD 500 million (EUR 330 million).McCloskey has approx. 900 employees in Canada, the United States and Northern Ireland.

"We are proud of the growth achieved in a competitive market. I know that joining Metso is the right move for all our customers, employees, dealers and business partners.The combination of our unique focus on products and people and Metso's global resources will help create even better solutions for our customers," says Paschal McCloskey, Founder, President and CEO of McCloskey.

The enterprise value of the transaction is CAD 420 million (EUR 279 million) payable at closing with an additional profitability-based earn-out consideration of up to CAD 35 million (EUR 23 million) for the two-year period after closing. The transaction is expected to be positive for Metso's earnings per share in 2020. McCloskey will be reported in Metso's Minerals segment.

To ensure financing for the acquisition, Metso has agreed on a bilateral loan from Nordea Bank Abp. The loan has a maturity of two years and includes an option to extend the maturity by one year.

The acquisition is subject to customary closing conditions, including anti-trust approvals. Closing is expected to take place during Q4 2019.

More from C&D Recycling

Thompson Recycle Company slashes fuel and maintenance costs, minimizes downtime with Volvo Penta-powered generators

Thompson Recycle Company reprocesses mountains of used asphalt rubble every year with its three mobile crushing plants in Michigan. The mobile plants use generators as their prime power source at road construction sites. Since switching to Volvo Penta-powered 600 kWe generators, they're saving hundreds of thousands of dollars per year in fuel and maintenance costs, not to mention less downtime.

Multitasking Sennebogen material handler is right toolkit for urban dismantling projects

After ten years of seeing the former Wangler furniture store stand vacant, local residents in Regensburg, Germany were pleased to see a crew from Metz GmbH arrive to tear down the building. At the center of the jobsite is a SENNEBOGEN 830 R-HDD E Series material handler fitted with a variety of attachments to bring down and extract the material, sort it and load it for on-site crushing.

Powerscreen adding Premiertrak 330 to jaw crusher range

Powerscreen is adding the Powerscreen Premiertrak 330 to its jaw crushing range. The new Premiertrak 330 is fitted with a simple, large fixed hopper improving setup time, reducing pegging and increasing the life of wear parts. The hydrostatic drive allows reversibility of the chamber, meaning the machine can unblock and run in reverse, allowing easier crushing of certain materials. In addition to this, a low engine speed improves fuel consumption and provides lower noise emissions for working in urban or restricted areas.

ShearCore's Fortress Cracker does double duty taking on primary and secondary demolition

ShearCore's Fortress Cracker is a primary demolition shear with the ability to do secondary demolition.
• Narrow Stick body for improved visibility.
• Removable isolated bottom cover provides exceptional access to all serviceable components.
• Unique pin retention eliminates weld-on cylinder pin keeper.
• Tight blade clearances allow rebar to be processed throughout the entire jaw length.
• Full-length side plates are machined from solid three-inch high-yield structural plate steel resulting in no weld seams.

First ZenRobotics AI-powered sorting system operational in California at Zanker Recycling

San Jose-based Zanker Recycling, a U.S. based specialist in construction and demolition (C&D) materials processing systems and recycling, in partnership with Plexus Recycling Technologies, the North American distributor of ZenRobotics, have announced that ZenRobotics' ZRR2 AI Robots are now officially operational at Zanker Recycling's San Jose site.

NPK demolition grabs efficient for sorting and recycling C&D waste

For use with excavators in the 11- to 44-ton range, these NPK grabs' high durability and low maintenance cost make them highly efficient for sorting and recycling C&D waste.
• High tension, special wear steel.
• 360-degree hydraulic rotation.
• They have a wide jaw opening and offer high closing force.
• Fully encased, easily accessible hydraulic components.
• Adjustable rotation speed and opening/closing speed
• Interchangeable and reversible cutters.
• Optional side covers and/or arm covers for loading activities and optional breaker plates for special demolition jobs.

Epiroc combi cutters serve up one-two crunch

These multi-purpose hydraulic attachments from Epiroc are for primary demolition and secondary reduction of concrete structures, as well as for cutting steel structures.
• For carriers 33,000 pounds to 188,000 pounds (16.5 tons to 94 tons).
• Two powerful hydraulic cylinders deliver constant closing forces with short open-close cycle times.
• Low noise, low vibration.
• 360-degree endless hydraulic rotation to allow optimal positioning and precise handling.
• Replaceable and reversible cutting blades with attachments that can be equipped with different type jaws.

NPK demolition tool crushes reinforced concrete with ease

For use with excavators in the 21 to 50 ton range, these attachments from NPK easily crush through reinforced concrete allowing for faster, more efficient separation of concrete and steel rebar for primary and secondary demolition.
• Abrasion-resistant, high-strength alloy steel teeth decreases wear and increases durability.
• Optional 360-degree power rotation for maximum versatility.
• NPK's exclusive hydraulic intensifier system provides faster cycle times while requiring less flow and pressure from the carrier when compared with units using larger cylinders.
• Bolt-on replaceable tooth plate on the movable jaw.
• "A" models also utilize bolt-on tooth plate on the fixed jaw.

Subscribe to our free newsletter

Get our newsletter

Learn more

Caterpillar multi-processors for a variety of specialized demolition tasks

These heavy-duty, high-production tools from Caterpillar accept multiple interchangeable jaws for a variety of specialized demolition tasks.
• Speed booster technology dynamically shifts hydraulic force from speed to boost mode automatically during operation.
• Maximum crushing/cutting force is applied as soon as the jaw contacts material.
• Compact design keeps centre of gravity as close as possible to the machine for more power, even on a smaller excavator.
• Most cutting blades can be flipped in two ways, to use four different cutting edges for more production time per cutter.

Superior and CMS Cepcor create partnership for crusher parts in North America

Superior Industries Inc., a U.S. based manufacturer and global supplier of bulk material processing and handling systems, says it has entered into a strategic partnership with Europe's largest manufacturer of aftermarket crusher parts. For 40-plus years, CMS Cepcor has manufactured premium crusher spares for more than three dozen active and classic brands throughout Europe. The parts manufacturer recently expanded its global footprint when it launched CMS Cepcor Americas.

Watch Priestly Demolition demolish underground parking garage in confined downtown Toronto

Priestly Demolition is known for its tricky takedowns of old infrastructure in Ontario. Watch the company demolish a city-block-sized underground parking garage on busy Bay Street in downtown Toronto. Challenges include limited space for machine storage and need to keep roads clear for children's hospital emergency vehicle access.

New location to double production capacity for Rockster

Continuous expansion, high quality standards as well as short delivery deadlines made such a step necessary for the manufacturer of mobile crushing and screening machinery, Kormann Rockster Recycler GmbH from Ennsdorf. The acquisition of a 10,000 m² property in Neumarkt im Mühlkreis (Upper Austria) promises to provide a strong and needed force in a continuous growth and market demand.

KINSHOFER P-series orange peel grapples handle heavier loads and increase efficiency

KINSHOFER offers an extensive range of excavator orange peel grapples for scrap, demolition, loading and unloading applications. Unlike competitive grapples, according to Kinshofer, the P-Series hydraulic system is fully enclosed and protected, reducing the risk of damage to hoses and other components. Additionally, the grapple's unique tine design enhances material penetration, increasing the amount contractors can safely secure in one cycle and saving time on the jobsite. 

Subscribe to our free magazine

Get Our Magazine

Paper or Digital delivered monthly to you

Subscribe or Renew Learn more

Versatility and mobility: an in-depth report on impact crushers

Impact crushers have broad appeal across various sectors and for good reasons. Our panel of experts provides insight as to why this is, plus information on the dynamic market for impact crushers in Canada, their applications and advantages, customization and options, as well as what to consider when buying an impact crusher.

New Pitbull Grizzly screen an economical option for small- to mid-sized contractors

Lake Erie Portable Screeners introduces the heavy-duty Pitbull PB678 Static Grizzly. The compact screen is a smaller version of the popular PB148 for added jobsite versatility and pairs well with the Pitbull 2300 screening plant, making it an economical option for operations looking for a compact solution to sort oversize material on a reduced scale. The PB678 Static Grizzly includes features for easy bar removal or adjustments as well as transportability. It is ideal for a wide range of industries, including aggregates, mining, scrap, excavation, demolition, forestry and landscaping.

Subscribe to our free newsletter

Get our newsletter

Learn more

Recycled aggregates for roads

Municipalities are responsible for the care and maintenance of vast amounts of roads, from lanes to highways. When those roads are repaired or replaced, there's the potential to generate a significant amount of aggregate material - concrete and asphalt removed from the surface that must be dealt with.
Today's roadbuilding contractors are taking this material and recycling it more than ever before. However, research is showing that some municipalities are far better than others when it comes to using this type of aggregate in their roads - and some are far behind.

Keestrack optimizes electric drive technology

Keestrack offers today the most versatile range of hybrid and plug-in solutions in mobile processing technology for quarrying and recycling applications. This applies to the complete product range, from screening plants and stockpile conveyors to mobile track-mounted crushing solutions of all relevant technologies and for all production capacities.

Brokk releases diesel demolition robot with 40 percent more hitting power

Brokk has introduced the Brokk 520D. Meeting both Tier 4 Final and Europe's Stage IV emission standards, Brokk says that the new machine is the most eco-friendly diesel demolition robot on the market. The 520D replaces the Brokk 400D, one of the first diesel models released, and comes equipped with Brokk's signature SmartConcept technology, boasting 40 percent more hitting power.

Subscribe to our free magazine

Get Our Magazine

Paper or Digital delivered monthly to you

Subscribe or Renew Learn more