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.

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