Babcock & Wilcox Acquires Fossil Power Systems (FPS)
February 1, 2022
Babcock & Wilcox Enterprises, Inc. (B&W) acquired Fossil Power Systems, Inc. (FPS), a Dartmouth, Nova Scotia-based designer and manufacturer of hydrogen, natural gas and renewable combustion equipment, with the transaction closing on February 1, 2022. The acquisition expands B&W's combustion, control and fuel-conversion capabilities—supporting hydrogen firing and aftermarket growth across power generation, pulp & paper and industrial markets.
- Buyers
- Babcock & Wilcox Enterprises, Inc.
- Targets
- Fossil Power Systems, Inc. (FPS)
- Industry
- Manufacturing
- Location
- Nova Scotia, Canada
- Transaction Type
- Buyout
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