Dentons advises Babcock & Wilcox in $177M sale of Diamond Power Division

Dentons represented Akron, Ohio-based Babcock & Wilcox Enterprises, Inc. (NYSE: BW) as lead transaction counsel in the carve-out sale of its entire Diamond Power® division to Andritz AG (ANDR: Austria: Vienna) for the purchase price of US$177 million. In preparation of closing, the Firm also conducted a global company-wide reorganization of 21 entities in 12 countries. The transaction closed on July 31, 2025, with Partners Jeff McKenzie (Corporate and US Sector Co-Chair, Transportation & Infrastructure, Louisville) and Kirsti Olson (Corporate, Scotland) serving as client relationship managers.

Babcock & Wilcox Enterprises is a 158-year-old company that delivers environmentally conscious, technology driven solutions and services to energy and industrial customers worldwide. Its Diamond Power® division is the original equipment manufacturer of boiler cleaning equipment, sootblowers and replacement parts, with operations in 14 countries around the world.

The Louisville, Kentucky-based M&A deal team was led by Partners Jeff McKenzie and Christopher W.D. Jones, with support from Partners Michael McGee and Michael Holtz, Of Counsel Candise Caylao, Senior Managing Associate Andrew Klump, Managing Associate Patrick Wells, and Associate Colby Birkes, all of whom are part of the Corporate team.
Additional support in Louisville was provided by Partners Jim Irving (Restructuring, Insolvency and Bankruptcy and Office Managing Partner), April Wimberg (Restructuring, Insolvency and Bankruptcy) and Ross Cohen (Tax) and Of Counsel Daniel Fisher (Corporate).

Support, specialty practice and diligence teams included Partners Helen Cooper (Tax, Louisville), Carmin Grandinetti (Corporate, Louisville), James C. Eaves, Jr. (Intellectual Property and Technology, Louisville), Kate Erdel (Employment and Labor and Indianapolis Office Managing Partner), R. Clay Larkin (Environment and Natural Resources, Lexington), Michael Maloff (Corporate, Louisville) and Tandy C. Patrick (Co-Chair of Dentons US Real Estate Practice, Louisville); Of Counsel Jeffrey Bush (Corporate, Indianapolis) and Alexandra Gortchilova (Corporate, Indianapolis); Senior Managing Associate Bradley Strait (Environment and Natural Resources, Lexington); and Associates Natalie Beshock (Intellectual Property and Technology, Lexington), Ashley Brown (Restructuring, Insolvency and Bankruptcy, Louisville), Blair Johnson(Corporate, Lexington), Alexis Martinez (Corporate, Indianapolis), Lucy McAfee (Tax, Louisville), Conor Minogue (Real Estate, Louisville) and Amanda Wilhite (Corporate, Indianapolis).