M&A Deal Summary

Babcock & Wilcox Enterprises Acquires Spig

On May 23, 2016, Babcock & Wilcox Enterprises acquired machinery company Spig from Ambienta for 155M EUR

Acquisition Highlights
  • This is Babcock & Wilcox Enterprises’ 2nd transaction in the Machinery sector.
  • This is Babcock & Wilcox Enterprises’ 0th largest (disclosed) transaction.
  • This is Babcock & Wilcox Enterprises’ 1st transaction in Italy.
Investment Fate
  • Spig was divested to a consortium of buyers in 2024.

M&A Deal Summary
Date 2016-05-23
Target Spig
Sector Machinery
Buyer(s) Babcock & Wilcox Enterprises
Sellers(s) Ambienta
Deal Type Add-on Acquisition
Deal Value 155M EUR

Target

Spig

Paruzzaro , Italy
Spig is an engineering and contracting company that operates globally in the closed-loop industrial cooling systems sector, including cooling towers (wet cooling), air-cooled condensers, and air coolers (dry cooling). Its cooling systems are installed in power plants, refineries, petrochemical plants, and other industrial plants where cooling is critical. Spig is based in Paruzzaro , Italy.

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Buyer(S) 1

Buyer

Babcock & Wilcox Enterprises

Akron, Ohio, United States
Category Company
Founded 1867
Sector Energy Services and Equipment
Employees2,200
Revenue 999M USD (2023)
DESCRIPTION

Babcock & Wilcox Enterprises is a provider of an advanced energy and environmental technologies and services for the power and industrial markets, with operations, subsidiaries and joint ventures worldwide. Babcock & Wilcox Enterprises was incorporated in 1867 and is based in Akron, Ohio.

DEAL STATS #
Overall 2 of 6
Sector (Machinery) 2 of 3
Type (Add-on Acquisition) 2 of 6
Country (Italy) 1 of 1
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-13 MEGTEC Systems

De Pere, Wisconsin, United States

MEGTEC Systems, Inc. is a provider of an exhaust-air purification systems and dryers and coating systems for the production of electrodes for lithium-ion batteries. MEGTEC Systems was founded in 1997 and is based in De Pere, Wisconsin.

Buy $155M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-11 Universal Acoustic & Emission Technologies

Stoughton, Wisconsin, United States

Universal Acoustic & Emission Technologies, Inc. is a provider of custom-engineered acoustic, emission and filtration solutions to the natural gas power generation, mid-stream natural gas pipeline, locomotive and general industrial end-markets.

Buy $55M

Seller(S) 1

SELLER

Ambienta

Milan, Italy

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 3.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Ambienta is a pan-European middle-market investor focused on acquiring rapidly expanding companies capturing long-term environmental trends. The Firm will consider opportunities throughout Europe and looks to commit €30 to €100 million per transaction. Ambienta was formed in 2007 and is based in Milan, Italy.

DEAL STATS #
Overall 4 of 13
Sector (Machinery) 1 of 2
Type (Add-on Acquisition) 3 of 9
Country (Italy) 3 of 9
Year (2016) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-18 Calucem

Mannheim, Germany

Calucem is a provider of calcium aluminate cement, supplying high-quality and specialty cement to both the refractory and building chemistry industries. The company's products include low and medium-grade alumina cement and clinker. Calucem was founded in 1925 and is based in Mannheim, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-23 IP Cleaning

Summaga, Italy

IP Cleaning SPA (IPC Group) is a provider of professional cleaning solutions for commercial markets. The company designs and manufactures professional cleaning machines and equipment.

Sell $350M
Mergr

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