B&W Completes Acquisition of Cooling Systems and Services Firm Spig
Charlotte-based Babcock & Wilcox Enterprises Inc. completed its acquisition of Spig S.p.A., a global provider of custom-engineered cooling systems and services. The acquisition is based on an enterprise value of ~$171.5 millon (€155 million), subject to certain adjustments.
Spig will retain its management team and operate as Babcock & Wilcox Spig (B&W Spig), a subsidiary of B&W based in Arona, Italy.
Spig’s products and services include air-cooled (dry cooling) systems; mechanical-draft wet cooling towers and natural-draft wet cooling hyperbolic towers; and end-to-end aftermarket services, including spare parts, upgrades/revamps for existing installations and remote monitoring.