CFIUS Filing Clearance: Durr AG and MeGTEC and Universal Businesses of Babcock & Wilcox Enterprises, Inc.
Acquirer: Dürr AG (Germany)
Acquired: MEGTEC and Universal businesses of Babcock & Wilcox Enterprises, Inc. (US)
Value: US$131 Million
Industry: Industrial Products and Services
Babcock & Wilcox Enterprises, Inc., a publicly traded US business providing energy and environmental technologies and services for the power and industrial markets, announced on October 2, 2018, the CFIUS found no unresolved national security concerns associated with the proposed sale of Babcock & Wilcox’s MEGTEC and Universal industrial environmental technology businesses to Dürr AG, a German based mechanical and plant engineering firm. (See Babcock & Wilcox Press Release, Babcock & Wilcox Announces Completion of CFIUS Review, Oct. 2, 2018.) MEGTEC, a supplier of environmental control technologies that “oxidize, filter, recover and/or purify vapor-phase and liquid effluents from a variety of processes, and Universal, an supplier of acoustic and emission filtration systems, were acquired by Dürr on October 8, 2018. (See Dürr Press Release, Dürr Closes Acquisition in the Industrial Environmental Technology Business, Oct. 8, 2018; see also Babcock & Wilcox Press Release, B&W Closes Sale of MEGTEC and Universal Businesses, Oct. 8, 2018.)