LCC has provided strategic and financial advice to WearX in its successful divestment to leading Finnish player Metso.
The trade sale process run by LCC saw 4 final binding proposals tabled, in a targeted process where less than 8 parties were approached. All final proposals were from international parties, confirming the strength in LCC’s cross border expertise to target & successfully execute M & A transactions in today’s “borderless” business community.
The final valuation for WearX was strong, although it remains confidential. It would be described as a “lower mid market” sized transaction with a valuation multiple exceeding 11x TEV / EBIT on FY17A numbers (which translates into circa 9x Forward multiple on FY18B)
LCC continues to see strong demand for mining technology products & services plays from international parties, and anticipates additional deals happening within this vertical over the coming 6 to 12 months