Clearwater International advises VODA A/S on the sale to Babcock & Wilcox, Inc.
Clearwater International has advised VODA, a multi-brand service provider for large scale waste-to-energy and biomass-to-energy markets, on the sale to the US-listed global energy and environmental solutions provider, Babcock & Wilcox (B&W).
VODA delivers service and maintenance focused on optimising the operation of renewable energy generation plants for both private and public customers.
Since its establishment in 2018, VODA has in record pace grown to captivate a leading Scandinavian market position, with its one-stop-shop service provider concept for customers. The company is founded on a disruptive business model and a dynamic organisation with extensive industry experience, that innovated the traditional service provider business model to improve alignment between service offering and customer needs.
B&W is a global energy and environmental solutions provider, generating approximately $600m (€517m) in revenue annually. With more than 150 years of experience, B&W is recognised for its history of excellence in engineering and technological innovation in the energy generation industry.
The strategic acquisition combines VODA’s and B&W’s strengths and takes on the strong foundation that VODA has built at an impressive pace creating a solid baseline to further expand the service business in Europe’s fast-growing renewable energy market while strengthening the customer and market position significantly.