BDA Advises Terex on Sale of Its UK Compact Construction Equipment Business to Groupe Mecalac
New York, NY, December 21, 2016 --(PR.com)-- BDA Partners ("BDA") is pleased to announce that its client, Terex Corporation, a leading global manufacturer of lifting and material processing products and services, has agreed to sell the assets of its business in Coventry, United Kingdom, to Groupe Mecalac, a French manufacturer of urban construction equipment. The Coventry business manufactures and sells backhoe loaders, site dumpers, and compaction rollers. BDA acted as exclusive financial advisor to Terex.
The transaction follows the divestiture of Terex's German compact construction equipment business to Yanmar, a leading Japanese manufacturer of diesel engines. BDA also advised Terex on that transaction. These divestitures are driven by Terex's strategy to focus its portfolio on those product categories where Terex has a significant presence in the market and that can provide the greatest returns for its shareholders.
The sale, which is subject to customary closing conditions, is targeted to close in the first half of 2017.
Gregg Horne, General Manager of the Coventry business, said, "We are pleased and excited about the opportunity to join the Mecalac family. They embrace our vision of market growth and product innovation for the Coventry products, and they share the same values in terms of quality and team working."
John Garrison, Terex President and Chief Executive Officer, said, "We are pleased to enter into this agreement with Mecalac as they are a logical strategic buyer and have the resources and capability to further grow the business."
Henri Marchetta, Mecalac Chief Executive Officer, said, "This acquisition follows our growth strategy, based on excellence, on the broadening of our range of equipment for urban construction sites, and on international distribution deployment."
Euan Rellie, BDA Co-Founder, said, "We're proud to have advised on a second transaction for Terex this year. BDA helps its clients to find, engage, and transact with the optimal counterparties, wherever they may sit in the world. Mecalac is an excellent strategic buyer, offering a complementary product range and resources to grow the business across Europe and globally."
BDA Deal Team
Euan Rellie, Senior Managing Director, New York
Jonathan Aiken, Director, London
Jakub Widzyk, Associate, London
David Kim, Analyst, New York
About Terex
Terex Corporation is a global manufacturer of lifting and material processing products and services that deliver lifecycle solutions to maximize customer return on investment. The Company reports in three business segments: Aerial Work Platforms, Cranes, and Materials Processing. Terex delivers lifecycle solutions to a broad range of industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. Terex uses its website (www.terex.com) and its Facebook page (www.facebook.com/TerexCorporation) to make information available to its investors and the market.
About Groupe Mecalac
Mecalac designs, manufactures, and distributes urban construction equipment and services. Its products include multi-purpose wheeled machines, multi-purpose crawlers/wheeled urban excavators, versatile excavators, wheeled loaders, and technical assistance, spare parts, training services, and accessories for excavators and loaders. Mecalac's products are used in various applications, including road works, pipe laying, countryside management, building, local councils, cable laying, sewerage systems, military, industrial, road-rail, recycling, and tunnels. www.mecalac.com
About BDA
BDA Partners is a leader in cross-border investment banking involving Asia. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996. BDA has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe, and Asia. BDA is headquartered in New York with offices in London, Dubai, Mumbai, Ho Chi Minh City, Singapore, Hong Kong, Shanghai, Seoul, and Tokyo. BDA was named M&A Advisory Firm of the Year at The ACG Champions Awards in 2015. BDA formed a partnership with William Blair & Company in 2011. www.bdapartners.com
BDA carries out its US securities business through BDA Advisors Inc, a broker-dealer registered with the US Securities and Exchange Commission (SEC) and a member of FINRA and SIPC. BDA's UK subsidiary is authorised and regulated by the Financial Conduct Authority. BDA's HK subsidiary is licensed and regulated by the Securities & Futures Commission.
The transaction follows the divestiture of Terex's German compact construction equipment business to Yanmar, a leading Japanese manufacturer of diesel engines. BDA also advised Terex on that transaction. These divestitures are driven by Terex's strategy to focus its portfolio on those product categories where Terex has a significant presence in the market and that can provide the greatest returns for its shareholders.
The sale, which is subject to customary closing conditions, is targeted to close in the first half of 2017.
Gregg Horne, General Manager of the Coventry business, said, "We are pleased and excited about the opportunity to join the Mecalac family. They embrace our vision of market growth and product innovation for the Coventry products, and they share the same values in terms of quality and team working."
John Garrison, Terex President and Chief Executive Officer, said, "We are pleased to enter into this agreement with Mecalac as they are a logical strategic buyer and have the resources and capability to further grow the business."
Henri Marchetta, Mecalac Chief Executive Officer, said, "This acquisition follows our growth strategy, based on excellence, on the broadening of our range of equipment for urban construction sites, and on international distribution deployment."
Euan Rellie, BDA Co-Founder, said, "We're proud to have advised on a second transaction for Terex this year. BDA helps its clients to find, engage, and transact with the optimal counterparties, wherever they may sit in the world. Mecalac is an excellent strategic buyer, offering a complementary product range and resources to grow the business across Europe and globally."
BDA Deal Team
Euan Rellie, Senior Managing Director, New York
Jonathan Aiken, Director, London
Jakub Widzyk, Associate, London
David Kim, Analyst, New York
About Terex
Terex Corporation is a global manufacturer of lifting and material processing products and services that deliver lifecycle solutions to maximize customer return on investment. The Company reports in three business segments: Aerial Work Platforms, Cranes, and Materials Processing. Terex delivers lifecycle solutions to a broad range of industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. Terex uses its website (www.terex.com) and its Facebook page (www.facebook.com/TerexCorporation) to make information available to its investors and the market.
About Groupe Mecalac
Mecalac designs, manufactures, and distributes urban construction equipment and services. Its products include multi-purpose wheeled machines, multi-purpose crawlers/wheeled urban excavators, versatile excavators, wheeled loaders, and technical assistance, spare parts, training services, and accessories for excavators and loaders. Mecalac's products are used in various applications, including road works, pipe laying, countryside management, building, local councils, cable laying, sewerage systems, military, industrial, road-rail, recycling, and tunnels. www.mecalac.com
About BDA
BDA Partners is a leader in cross-border investment banking involving Asia. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996. BDA has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe, and Asia. BDA is headquartered in New York with offices in London, Dubai, Mumbai, Ho Chi Minh City, Singapore, Hong Kong, Shanghai, Seoul, and Tokyo. BDA was named M&A Advisory Firm of the Year at The ACG Champions Awards in 2015. BDA formed a partnership with William Blair & Company in 2011. www.bdapartners.com
BDA carries out its US securities business through BDA Advisors Inc, a broker-dealer registered with the US Securities and Exchange Commission (SEC) and a member of FINRA and SIPC. BDA's UK subsidiary is authorised and regulated by the Financial Conduct Authority. BDA's HK subsidiary is licensed and regulated by the Securities & Futures Commission.
Contact
BDA Partners
Euan Rellie
212-265-5300
www.bdapartners.com
Euan Rellie
212-265-5300
www.bdapartners.com
Contact
Categories