GE Energy has signed a definitive agreement to acquire BHA Group Holdings, a provider of air quality control products and services, in a cash transaction worth approximately $260 million, or for $38 per share.
Upon consummation of the transaction, BHA will become a wholly owned subsidiary of GE.
Based in Kansas City, Missouri, BHA (BHAG) is a NASDAQ quoted company with operations in 11 countries, supplying parts, services and engineered upgrades to reduce particulate matter emissions for a range of power generation and industrial applications. In addition, the company is a supplier of ePTFE membrane products that are used in a variety of industrial and consumer products.
Following the closing of the acquisition, BHA will be integrated with GE Energy’s portfolio of environmental services.
BHA is the latest of several acquisitions and product announcements designed to broaden GE Energy’s offerings in renewable and cleaner energy production.
The acquisition is subject to customary closing conditions including regulatory approvals and BHA stockholder approval. The acquisition is expected to close in late summer.