ABB Acquires SIB to Strengthen Cable Protection and Electrification Portfolio Across Key Markets

ABB Acquires SIB to Strengthen Cable Protection and Electrification Portfolio Across Key Markets

(IN BRIEF) ABB has acquired Solutions Industry & Building (SIB), a French manufacturer of premium cable glands and electrical products, to expand its portfolio of electrification and cable protection solutions. This acquisition strengthens ABB’s presence in specialized markets such as industrial, railway, and hazardous environments across Europe, the Middle East, and North America. SIB, founded in 1922 and known for its innovative products, serves over 2,000 customers globally. The integration of SIB’s expertise complements ABB’s existing premium brands, including PMA®, Harnessflex®, and Adaptaflex®, aligning with ABB’s strategy to drive growth, innovation, and sustainability.

(PRESS RELEASE) ZURICH, 4-Dec-2024 — /EuropaWire/ — ABB has announced the acquisition of Solutions Industry & Building (SIB), a French manufacturer of premium cable glands and electrical products, as part of its ongoing strategy to enhance its presence in specialized markets. The deal, finalized with Galiena Capital, brings SIB’s expertise and nearly a century of heritage under ABB’s Installation Products Division, bolstering its portfolio in industrial, railway, hazardous environment, and construction applications. Financial terms of the acquisition have not been disclosed.

Headquartered in Boulay-Moselle, France, SIB is renowned for its innovative solutions, including brass, stainless steel, and plastic cable glands, couplings, and certified products for industries such as oil and gas, rail, and shipping. In 2023, SIB generated approximately €25 million ($27 million) in revenue, serving over 2,000 customers globally. This acquisition aligns with ABB’s strategy to expand its premium cable protection offerings, complementing existing brands such as PMA®, Harnessflex®, and Adaptaflex®.

Khalid Mandri, President of ABB Installation Products Division, commented on the acquisition: “The demand for reliable and safe electrification solutions continues to rise, and integrating SIB’s expertise into our portfolio allows us to strengthen our capabilities in highly specialized markets. This move aligns with our commitment to growth and innovation, providing our customers with the high-quality solutions they need.”

Gilles Lherbier, Chairman of SIB, described the acquisition as a pivotal moment in the company’s history. “Joining forces with ABB, a global leader, will allow us to build on our long-standing expertise and extend our reach in connection and protection products to a wider audience,” he said.

This acquisition also represents a significant step forward in ABB Installation Products’ mission to deliver solutions that safely connect and protect electrical systems across various industries. Known for its extensive range of over 200,000 products under 38 premium brands, ABB Installation Products has been a leader in electrification, creating solutions that power homes, businesses, transportation, and beyond.

ABB, a global leader in electrification and automation, continues to focus on enabling a sustainable and resource-efficient future through innovative engineering and digitalization. With over 105,000 employees worldwide and more than 140 years of history, ABB’s acquisition of SIB highlights its commitment to enhancing performance and sustainability across industries.

ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while becoming more efficient, productive and sustainable so they outperform. At ABB, we call this ‘Engineered to Outrun’. The company has over 140 years of history and more than 105,000 employees worldwide. ABB’s shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB). www.abb.com

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SOURCE: ABB