Without wanting to start yet another debate, the matching system is explained here: http://dode74.com/bb/matchmaking.php
The timer itself is supposed to pool teams which enter within that 5-minute period and select the best matches based on the above. Thing is, it doesn't even seem to be doing that particularly well and it is suspected that rather than looking for the best matches overall it simply lists the teams in the order they enter pool and find the best match for each team in turn, which doesn't actually make for particularly good matches using any method.
As for your own match, there are a number of possibilities, not least is that you may have been looking for a match at a low-population time. Without looking at the match in question I can't really answer it, but if you're playing outside EU evenings then that's the most likely answer.
6 weeks. This one will end on 25th July