- Synergistic bolt-on to industrial segment
- Expands natural gas end-market exposure
CHARLOTTE, N.C.--(BUSINESS WIRE)--
Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) has acquired
Universal Acoustic & Emission Technologies, Inc. (UniversalAET), a
Wisconsin-based provider of custom-engineered acoustic, emission and
filtration solutions, effective today.
UniversalAET is a bolt-on acquisition for B&W MEGTEC and will be
included in B&W’s Industrial operating segment. The new company will be
named Babcock & Wilcox Universal and operate under the trade name B&W
Universal.
UniversalAET provides custom-engineered acoustic, emission and
filtration solutions to the natural gas power generation, mid-stream
natural gas pipeline, locomotive and general industrial end-markets.
UniversalAET employs approximately 460 people, mainly in the U.S. and
Mexico. UniversalAET’s product offering includes gas turbine inlet and
exhaust systems, custom silencers, filters and custom enclosures.
“UniversalAET expands our industrial environmental portfolio into noise
abatement, introduces us to new end markets and customers, and gives us
another avenue to serve natural gas power generation customers,” said
B&W Chairman and Chief Executive Officer E. James Ferland. “This
acquisition aligns with our strategy to grow our industrial market
exposure and continue to increase our non-coal revenue base.”
The deal is based on an enterprise value of $55 million, subject to
certain adjustments. UniversalAET is expected to generate approximately
$80 million of annual revenue and to be accretive in 2017.
About B&W
Headquartered in Charlotte, N.C., Babcock & Wilcox is a global leader
in energy and environmental technologies and services for the power and
industrial markets. B&W companies employ approximately 5,700 people
around the world. Follow us on Twitter @BabcockWilcox
and learn more at www.babcock.com
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements,
including, without limitation, statements relating to our acquisition of
UniversalAET and its impact on our business and results of operations.
These forward-looking statements are based on management’s current
expectations and involve a number of risks and uncertainties, including,
among other things, our ability to successfully integrate UniversalAET
and realize the expected synergies from the acquisition; the performance
of UniversalAET; our ability to retain significant customers and key
personnel; and overall market conditions. For a more complete
discussion of other risk factors, see B&W’s filings with the Securities
and Exchange Commission, including our most recent annual report on Form
10-K and subsequent quarterly reports on Form 10-Q. B&W cautions not to
place undue reliance on these forward-looking statements, which speak
only as of the date of this release, and undertakes no obligation to
update or revise any forward-looking statement, except to the extent
required by applicable law.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170111006143/en/
Source: Babcock & Wilcox Enterprises, Inc.