LCC Advises WearX on Divestment to leading global industrial company Metso

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