Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) has acquired Universal Acoustic & Emission Technologies, Inc. (UniversalAET), a Wisconsin-based provider of custom-engineered acoustic, emission and filtration solutions, effective today.
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.
“UniversalAET expands our industrial environmental portfolio into noise abatement, introduces us to new end markets and customers, and gives us another avenue to serve natural gas power generation customers,” said B&W Chairman and Chief Executive Officer E. James Ferland. “This acquisition aligns with our strategy to grow our industrial market exposure and continue to increase our non-coal revenue base.”
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.