Statewide: Charlotte region, July 2014
STATEWIDE Charlotte Region
MassMutual’s Babson finds a perch downtown
CHARLOTTE — H. Lundbeck will acquire drug developer Chelsea Therapeutics in a deal worth up to $658 million. Chelsea, which employs 18 here, received U.S. Food and Drug Administration approval in February for its drug for dizziness and fainting connected to neurological conditions. Danish pharmaceutical company Lundbeck employs 6,000 people in 57 countries. The deal is expected to close in the third quarter.
CHARLOTTE — Menlo Park, Calif.-based private-equity firm GI Partners agreed to acquire Peak 10 from Welsh, Carson, Anderson & Stowe, a New York-based private-equity firm, for an undisclosed amount. Peak 10 operates 24 data centers in seven states, including six in North Carolina. The deal was expected to close in the second quarter.
CHARLOTTE — The power-generation subsidiary of Babcock & Wilcox, which provides engineering, manufacturing and construction services to energy companies, agreed to buy De Pere, Wis.-based MEGTEC for $155 million. MEGTEC makes air-pollution-control systems and employs 600 people in 10 countries. Babcock & Wilcox has 11,000 workers worldwide, including 200 here. The deal was expected to close by June 30.
CHARLOTTE — NuScale Power, which develops power systems for nuclear reactors, will open an operations and engineering center that will employ 70 people. It will share existing office space with Irving, Texas-based Fluor Corp., which owns a majority stake in NuScale. In December 2013, the U.S. Department of Energy awarded up to $225 million over five years to Portland, Ore.-based NuScale to develop nuclear small modular reactor technology.