Babcock & Wilcox sells its Allen-Sherman-Hoff business for $29M

Babcock & Wilcox Enterprises announced it has sold its Allen-Sherman-Hoff, or A-S-H, business to a subsidiary of Austria-based ANDRITZ for $29M, subject to customary fees and adjustments. In conjunction with the transaction, B&W and ANDRITZ, through certain wholly-owned subsidiaries, have signed sales representative agreements under which B&W will continue to market A-S-H and Diamond Power products and services to customers in the utility power sectors. Lake Street Capital Markets served as exclusive financial advisor to B&W for the transaction.