Andritz has signed an agreement to acquire Diamond Power International, LLC (Diamond Power) businesses, including its subsidiaries and manufacturing locations, from U.S.-based Babcock & Wilcox Enterprises, Inc. (B&W).
Diamond Power is a designer and manufacturer of advanced boiler cleaning systems. The acquisition will significantly strengthen ANDRITZ’s recovery and power boiler service business.
Diamond Power has more than 120 years of experience in the supply of boiler cleaning technologies for the pulp, paper and power industries. It has locations in 15 countries, along with manufacturing bases in Lancaster, Ohio, USA and Dumbarton, Scotland, UK. The company achieves annual revenues in the range of 100 million euros with a team of 400 experts.
Diamond Power boiler cleaning systems and services complement Andritz’s capabilities for the supply and maintenance of boilers. The company’s comprehensive sales and service network will further strengthen Andritz’s global presence, offering potential for future growth from boiler-related products with a high share in services.
Jarno Nymark, ANDRITZ Executive Board member responsible for the Pulp & Paper business area, says: “With the variety of fuels increasing, cleaning the inside of recovery and power boilers is becoming more important all the time. This acquisition is driven by our commitment to providing our customers with comprehensive and innovative solutions for the efficient and reliable operation of boilers throughout their lifecycle.”
In addition to cleaning technologies, Diamond Power provides a variety of process optimization products, including monitoring systems such as high-definition and infrared light cameras, process gas temperature measuring pyrometers, and temperature measurement software.
“We have had a strong relationship with Andritz for many years and are pleased to announce this transaction,” said Christopher Riker, B&W Executive Vice President and Chief Operating Officer. “We’re committed to ensuring a smooth transition of this business over the weeks ahead and look forward to continuing to work with the ANDRITZ and Diamond Power team to support customers in the global power and industrial markets.”
The closing of the transaction is expected within 30 to 60 days.
