Babcock & Wilcox completes acquisition of renewable parts and service firm, VODA A/S.
Babcock & Wilcox Enterprises, Inc. (“B&W” or the “Company”) (NYSE: BW) announced that it has completed its previously announced acquisition of VODA A/S, a leading multi-brand aftermarket parts and service provider for energy plants in Scandinavia.
The combined VODA A/S and B&W service business will be part of the company’s B&W Renewable segment, creating a platform for growth in renewable service in Europe.
Kenneth Young, B&W Chairman and Chief Executive Officer.
We are excited to enhance our renewable energy parts and service capabilities with this acquisition and welcome the VODA team to B&W.
“VODA has experienced, customer-focused and knowledgeable employees and aligning this organization with B&W’s decades of experience, strong balance sheet and deep resources will make us an even stronger force, not only in the waste-to-energy and biomass-to-energy sectors in the European market, but also as we continue to expand our renewable service business to other energy and industrial customers.”
Christopher Nysted Sørensen, formerly the Chief Executive Officer of VODA, will be responsible for integrating the VODA team with B&W Renewable’s aftermarket service operations and leading the growth of this business.
B&W Renewable offers cost-effective technologies for efficient and environmentally sustainable power and heat generation for a variety of industries including waste-to-energy, biomass and biofuels, hydrogen, pulp and paper and solar.
Its aftermarket service operations provide plant and engineering services, spare parts, outage support and management services regardless of original manufacturer.
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Babcock & Wilcox Completes Acquisition of Renewable Parts and Service Firm, VODA A/S, Akron, Ohio, November 30, 2021
