B&W closes sale of SPIG and GMAB for ~€36.7M ($40M) to Auctus Capital Partners

Babcock & Wilcox Enterprises, Inc.

Base purchase price ~€36.7M (approx $40M), subject to customary adjustments and expenses.
Transaction includes Italian subsidiary SPIG S.p.A. and Swedish subsidiary B&W Vølund AB (GMAB).
Pro forma adjustments remove $43.0M revenue (H1 2024) and $94.3M (FY2023) from divested entities.
Company recorded $8.7M impairment on certain intangible assets related to divestiture group in FY2023.
Transaction includes three-year non-compete and non-solicitation covenants limited to Wet and Dry Cooling Business.

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