Metso’s €275m sale of Dynapac
UBS was co-ordinator
Metso’s disposal of Dynapac, one of the world’s leading manufacturers of compaction and paving equipment, was a standard affair apart from one detail that singled the deal out: the dexterity of the co-ordinating investment bank UBS. On conclusion of a three-stage auction process, Metso entered into exclusive talks with a financial sponsor, leaving two other interested parties by the wayside. After several days of negotiation and with the contract largely agreed, the potential buyer notified UBS that it had an outstanding due diligence point that could not be resolved.
As a result, exclusivity was terminated and the process reopened. Because UBS had structured the process to permit other bidders to complete due diligence, and had kept them “warm”, an agreement was signed with the eventual buyer, Altor, the next day.
