Investor Increases Stake in Babcock & Wilcox to 14 Percent

9/17/17

The manager of Vintage Capital Management LLC and Kahn Capital Management LLC has upped his stake in steam boiler and turbine manufacturer Babcock & Wilcox Inc. to 14 percent.

Brian R. Kahn submitted a filing on Friday for Vintage Capital and Kahn Capital to the Securities and Exchange Commission, reporting ownership of 6.6 million shares of Babcock & Wilcox.

On Aug. 25, Kahn filed that he owned 4.4 million shares, or 9 percent.

Vintage Capital and Kahn Capital, both founded by Kahn, are public and private equity investors focused on the aerospace and defense, consumer and manufacturing sectors.

Kahn founded Vintage Capital Management LLC in 1998 and is its managing partner and has been its investment manager since 1998. Kahn is responsible for all aspects of transaction sourcing, due diligence and execution.

Babcock & Wilcox shares rose 35 cents, or more than 10 percent, on Friday to $3.55.

The company reported second quarter earnings last month that badly missed analysts’ projections. Revenue was $349.8 million, down 8.7 percent from the $383.2 million in last year’s second quarter.

A Schedule 13G is used to report a party’s ownership of stock that is over 5 percent of the company. The filing can be found here.

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.