MEGTEC Systems: Babcock & Wilcox to buy Wisconsin environmental products manufacturer MEGTEC for $155M

The Babcock & Wilcox Co. has agreed to buy air pollution and energy storage technology company MEGTEC Systems Inc. of De Pere for $155 million in cash and debt assumption. The Green Bay-area company will be purchased by B&W Power Generation Group Inc., a B&W subsidiary. Babcock & Wilcox CEO Jim Ferland says the deal is expected to close by June 30. He says it should be immediately accretive to B&W shareholders. “In MEGTEC, we found strategic fit,” he told analysts on a conference call Tuesday…