Babcock & Wilcox Enterprises, Inc. has reached an agreement to sell its Italy-based SPIG S.p.A. (SPIG) group of companies and Sweden-based Babcock & Wilcox Vølund AB formerly known as Götaverken Miljö AB to funds managed by AUCTUS Capital Partners AG, a European private equity firm, for approximately $40 million. The deal is expected to close at the end of October and is aligned with B&W's strategy to divest non-core businesses and assets to reduce debt, improve the balance sheet and increase liquidity.