AUCTUS Capital to acquire the Italian and Swedish businesses from Babcock & Wilcox for $40m.

AUCTUS Capital, an investment company, agreed to acquire the Italian and Swedish businesses from Babcock & Wilcox, an energy technology and service provider, for $40m. “This sale aligns with our previously-announced strategy to divest certain non-core businesses and assets to reduce our debt, improve our balance sheet and increase liquidity. Moving forward, we continue to see steadily increasing global demand for B&W’s core portfolio of technologies that support increased global energy demand from utilities and various industries,” Kenneth Young, B&W Chairman and CEO.