Babcock & Wilcox Enterprises, Inc. (BW): M&A transaction — Babcock & Wilcox sells Denmark renewable services subsidiary to Hitachi Zosen Inova for $87M

Babcock & Wilcox Enterprises, Inc.

Sale closed June 28, 2024; base purchase price ~$87M cash, subject to customary adjustments and fees.
Proceeds will be used to reduce debt, increase liquidity and support working capital.
Company reaffirms FY2024 Adjusted EBITDA target range of $105M to $115M, excluding BrightLoop/ClimateBright expenses.
BWRS provides aftermarket parts and services for waste-to-energy plants in northern Europe and the UK; employs 160+ people.
Company entered into a 24-month non-competition and non-solicitation agreement with Hitachi Zosen Inova.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Babcock & Wilcox Enterprises, Inc. completed a disposition involving Hitachi Zosen Inova AG for approximately $87 million (closed 2024-06-28).

Action: disposition
Counterparty: Hitachi Zosen Inova AG
Consideration: approximately $87 million
Closing: 2024-06-28

Exact text from the filing

agreement, the “Purchase Agreement”). The sale of BWRS to the Buyer was completed the same day. The Purchase Agreement provides for a base purchase price equal to approximately $87 million, subject to certai n debt and working capital upward or downward adjustments. The Purchase Agreement also includes customary representations and warranties regarding BWRS and its

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Babcock & Wilcox Enterprises, Inc. filing history →

Source: SEC EDGAR

accession 0001630805-24-000048

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