Babcock & Wilcox To Buy MEGTEC For Enterprise Value Of $155 Mln - Quick Facts

(RTTNews) - Babcock & Wilcox Co. (BWC) announced that its subsidiary, Babcock & Wilcox Power Generation Group Inc., agreed to acquire industrial processes solutions provider MEGTEC based on an enterprise value of $155 million, subject to adjustment for MEGTEC's cash and indebtedness and certain other closing items.

MEGTEC, which employs approximately 600 people in 10 countries, will operate as Babcock & Wilcox MEGTEC, a wholly owned subsidiary of Babcock & Wilcox Power Generation Group. The purchase is expected to be completed by June 30, 2014.

MEGTEC, based in De Pere, Wis., designs, engineers, manufactures and services sophisticated air pollution control systems and coating/drying equipment. MEGTEC's technologies provide a range of sustainability-focused benefits, including pollution abatement, carbon management, energy storage and recovery, and environmental compliance. In addition to the United States, the company has operations in Canada, France, Italy, Sweden, Germany, the United Kingdom, China, India and Australia, and maintains a worldwide service and replacement parts support network.