BDA advises Doosan on sale of Doosan Babcock to Altrad

BDA Partners is pleased to announce that its client, Doosan Enerbility (“Doosan”), has agreed to sell Doosan Babcock Limited to Altrad, a leading French industrial services company. Terms of the transaction were not disclosed.

BDA was the exclusive financial advisor to Doosan on the transaction.

Doosan Babcock is a leading specialist in EPC (engineering, procurement and construction) services for the nuclear and energy sectors. Following the acquisition, its 4,000 employees across the UK, Europe and the Middle East will join Altrad under the “Altrad Babcock” banner.

Howard Lee, Partner and Head of BDA Seoul, commented: “This transaction represents the start of a new chapter for Doosan Babcock, which, based on its 130-year track record, has adapted continuously to changing market conditions. We’re happy to be part of this milestone transaction. It reinforces BDA’s strong record in the engineering sector, contributes to the re-positioning of Doosan Group, and demonstrates the depth of our relationships and experience globally.”

Victor Chang, Managing Director of BDA Seoul, said: “We’re pleased to have advised our longstanding client Doosan on this successful cross-border transaction. Our Seoul and London offices worked effectively together to deliver an outstanding result for Doosan, the management and Altrad.”

Jonathan Aiken, Managing Director and Head of BDA London, said: “This transaction reflects BDA’s ever-increasing track record of complex, cross-border corporate carve-outs. BDA’s ability to work seamlessly across borders to deliver important solutions for our clients is a key differentiator.”