Babcock & Wilcox acquires UniversalAET in $55 million deal
Charlotte-based Babcock & Wilcox Enterprises said Wednesday it has acquired Universal Acoustic & Emission Technologies in a $55 million deal.
Universal is a Wisconsin-based provider of custom-engineered acoustic, emission and filtration products for natural gas power generation, pipelines, locomotive and industrial markets. It will be part of B&W’s industrial operating segment and operate as Babcock & Wilcox Universal.
UniversalAET employs about 460 people in the U.S. and Mexico. It’s expected to generate about $80 million a year in revenue.
“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,” B&W chairman and CEO James Ferland said in a statement. “This acquisition aligns with our strategy to grow our industrial market exposure and continue to increase our non-coal revenue base.”
Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. The company employs 5,700 people globally.
Bruce Henderson: 704-358-5051, @bhender
This story was originally published January 11, 2017 at 6:28 PM with the headline "Babcock & Wilcox acquires UniversalAET in $55 million deal."