B&W Completes Acquisition of SPIG

cooling tower

Babcock & Wilcox Enterprises Inc. (B&W, NYSE: BW) completed its acquisition of SPIG S.p.A., a global provider of custom-engineered cooling systems and services, for €155 million ($171.3 million).

SPIG will retain its management team and will operate under the name Babcock & Wilcox SPIG (B&W SPIG), a subsidiary based in Arona, Italy. SPIG was established in 1936 and provides customers with air-cooled systems, mechanical draft wet cooling towers and natural draft wet cooling hyperbolic towers, as well as end-to-end aftermarket services. Those services include spare parts, upgrades/revamps for existing installations and remote monitoring.

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