Babcock and Wilcox Enterprises Inc., a Charlotte-based company, announced it is acquiring Universal Acoustic & Emission Technologies Inc. for $55 million.

Universal AET is a Wisconsin based company that provides custom–engineered acoustic, emission and filtration solutions. The company offers products such as gas turbine inlet and exhaust systems, custom silencers, filters and custom enclosures.

Universal AET is expected to generate approximately $80 million of annual revenue. The new company will be incorporated into B&W’s industrial operating segment.

Babcock & Wilcox is an energy and environmental technology company. The acquisition diversifies its business so it is not as reliant on energy.

“This acquisition aligns with our strategy to grow our industrial market exposure and continue to increase our non-coal revenue base,” said B&W Chief Executive Officer E. James Ferland in a statement.

Universal AET employs approximately 460 people, mainly in the U.S. and Mexico, while B&W employs approximately 5,700 people worldwide.

Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism