Babcock & Wilcox to acquire UniversalAET for $55 million
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.
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. ■