Deutsche Invest Mittelstand has agreed to acquire Babcock & Wilcox Loibl.

Deutsche Invest Mittelstand, an asset manager, has agreed to acquire Babcock & Wilcox Loibl, Germany-based material handling subsidiary from Babcock & Wilcoxl, energy and environmental technology. Financial terms were not disclosed. “The proceeds from B&W’s sale of Loibl will be used to reduce debt, provide working capital and strengthen the company’s liquidity and overall financial position, as well as help us focus on our core businesses. I would like to thank Loibl’s employees and management team for the many contributions they have made to B&W and wish them the best with their new parent company.” Kenneth Young, B&W Chief Executive Officer.