Dentons Successfully Advises Babcock & Wilcox on $177M Sale of Diamond Power Division
Dentons, a leading global law firm, represented Babcock & Wilcox Enterprises in the $177 million sale of its Diamond Power Division to Andritz AG. The transaction involved a comprehensive reorganization of 21 entities across 12 countries and was completed on July 31, 2025.
MaBabcock WilcoxAndritz AgDentonsDiamond Power DivisionReal EstateAug 16, 2025
Babcock & Wilcox Enterprises is a 158-year-old company that specializes in delivering environmentally conscious, technology-driven solutions and services to energy and industrial customers worldwide. Its Diamond Power® division is renowned as the original equipment manufacturer of boiler cleaning equipment, sootblowers, and replacement parts, with operations spanning 14 countries.
The M&A deal team from Louisville, Kentucky, was led by Partners Jeff McKenzie and Christopher W.D. Jones, with additional 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), along with Of Counsel Daniel Fisher (Corporate).
The 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) also contributed, along with 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).
This transaction underscores Dentons' expertise in complex, cross-border transactions and its commitment to providing comprehensive legal services to its clients. Babcock & Wilcox's decision to divest its Diamond Power® division is part of a broader strategy to focus on core business areas and enhance shareholder value. The sale to Andritz AG, a leading technology group, ensures that the Diamond Power® division will continue to thrive and innovate in the global market.
Dentons' role in this transaction highlights its ability to manage large-scale reorganizations and ensure a smooth transition for all parties involved. The firm's multidisciplinary approach and global reach were crucial in achieving a successful outcome for Babcock & Wilcox Enterprises and its stakeholders.
For more information about Babcock & Wilcox Enterprises, visit their official website. Dentons, a global law firm, provides a wide range of legal services to clients across various industries, including M&A, corporate, tax, and environmental law. For more information about Dentons, visit their official website.
Frequently Asked Questions
What is Babcock & Wilcox Enterprises?
Babcock & Wilcox Enterprises is a 158-year-old company that specializes in delivering environmentally conscious, technology-driven solutions and services to energy and industrial customers worldwide.
What is the Diamond Power Division?
The Diamond Power Division of Babcock & Wilcox is the original equipment manufacturer of boiler cleaning equipment, sootblowers, and replacement parts, with operations in 14 countries.
Who represented Babcock & Wilcox in the sale of the Diamond Power Division?
Dentons, a leading global law firm, represented Babcock & Wilcox Enterprises as lead transaction counsel in the sale of the Diamond Power Division to Andritz AG.
What was the purchase price for the Diamond Power Division?
The purchase price for the Diamond Power Division was US$177 million.
When did the transaction close?
The transaction closed on July 31, 2025.
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