A New York investment firm that specializes in investing in industrial companies has purchased a 9.9 percent stake in Charlotte-based Babcock & Wilcox Enterprises Inc., a steam boiler and turbine manufacturer.

American Industrial Partners boosted its stake in Babcock & Wilcox by purchasing shares in a series of transactions between May 10 and May 19, according to a filing Monday with the Securities and Exchange Commission. It now owns 4.8 million shares of the company, or just less than 10 percent.

American Industrial Partners has been active in private equity investing since 1989. It has completed over 70 platform and add-on acquisitions and typically invests in corporate divestitures, management buyouts, recapitalizations, and going-private transactions of established businesses with revenues of $200 million to more than $1 billion.

The investor said it plans to talk with Babcock & Wilcox “concerning the business, assets, capitalization, financial condition, operations, management, strategy, potential business combinations and strategic alternatives, and future plans.”

Its filing was signed by partner Jason Perri, who joined American Industrial Partners in 2015. He most recently served as managing director at Spectrum Management where he helped lead the firm’s growth in private credit.

The Charlotte-based company was spun off from Lynchburg, Virginia-based BWX Technologies in July 2015. The company also designs nuclear power plants.

Earlier this month, the company gave earnings and revenue guidance that was above Wall Street expectations. The company projected earnings this year to be between 75 cents per share and 90 cents per share, above the 72 cents per share consensus at that time.

Its stock fell in February from around $16.50 per share after it disclosed problems in its renewable energy business.

Babcock & Wilcox’s shares rose 34 cents, or 3.2 percent, to $10.86 in midday Monday trading.