Babcock & Wilcox Sells Italian and Swedish Subsidiaries
Deal News | Nov 04, 2024 | Legal Community Italy
Babcock & Wilcox Enterprises, Inc., a US-based energy and environmental solutions provider, has sold its Italian and Swedish subsidiaries—SPIG, an Italian company specializing in industrial cooling systems, and GMAB, a Swedish firm focused on industrial flue gas treatment. The buyer, AUCTUS Capital Partners, a Germany-Italy private equity fund manager, acquired a 98.25% stake with the support of legal advisors PedersoliGattai and EY. SPIG's CEO and CFO, Alberto Galantini and Costante Alver, acquired the remaining 1.75% stake in the operation, supported by Russo De Rosa Associati. The deal's financing was orchestrated by a consortium including Anthilia Capital Partners SGR, Green Arrow Capital SGR, and Ver Capital, with legal professional guidance from Advant Nctm. The transaction involved diverse legal and financial teams across multiple jurisdictions, highlighting complex aspects such as antitrust regulations, golden power, and labor laws.
Sectors
- Energy and Environmental Solutions
- Private Equity
- Legal Advisory
Geography
- United States – Babcock & Wilcox is based in the United States.
- Italy – SPIG, one of the subsidiaries sold, is based in Italy and multiple Italian firms and entities were key participants in the transaction.
- Sweden – GMAB, another subsidiary sold, is based in Sweden.
- Germany – AUCTUS Capital Partners is a German-Italian private equity firm.
Industry
- Energy and Environmental Solutions – Babcock & Wilcox is a provider of energy and environmental services, indicating the industry's relevance.
- Private Equity – AUCTUS Capital Partners is a private equity firm involved in the acquisition, highlighting the role of investment management in the transaction.
- Legal Advisory – Multiple law firms were involved in providing legal guidance across different aspects of the transaction, making it relevant.
Financials
- 98.25% – Percentage of capital acquired by AUCTUS Capital Partners.
- 1.75% – Percentage of capital retained by SPIG's executives.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Babcock & Wilcox Enterprises, Inc. | Seller | Company | US-based provider of energy and environmental solutions, selling its subsidiaries. |
| AUCTUS Capital Partners | Buyer | Company | German-Italian private equity fund manager. |
| SPIG | Target Company | Company | Italian company specializing in engineering and development of industrial cooling systems. |
| GMAB | Target Company | Company | Swedish firm focused on industrial flue gas treatment systems. |
| PedersoliGattai | Legal Advisor | Company | Provided legal advisory to AUCTUS Capital Partners. |
| EY | Financial Advisor | Company | Conducted financial due diligence. |
| Russo De Rosa Associati | Legal Advisor | Company | Advised SPIG's executives in the co-investment. |
| Advant Nctm | Legal Advisor | Company | Assisted in financing aspects of the deal. |
| Anthilia Capital Partners SGR | Investor | Company | Part of the investment pool funding the acquisition. |
| Green Arrow Capital SGR | Investor | Company | Part of the investment pool funding the acquisition. |
| Ver Capital | Investor | Company | Part of the investment pool funding the acquisition. |
| Dentons | Legal Advisor | Company | Advised Babcock & Wilcox on the transaction. |
| Alberto Galantini | Co-Investor & Executive | Person | CEO of SPIG, co-invested in the company. |
| Costante Alver | Co-Investor & Executive | Person | CFO of SPIG, co-invested in the company. |