ABB to Expand Electrification Service Portfolio with SEAM Group Acquisition

ABB to Expand Electrification Service Portfolio with SEAM Group Acquisition

(IN BRIEF) ABB has announced its agreement to acquire SEAM Group, a prominent provider of energized asset management and advisory services. This acquisition aims to enhance ABB’s Electrification Service offering, providing customers with expertise in predictive, preventive, and corrective maintenance, electrical safety, renewables, and asset management advisory services. SEAM Group’s suite of services, supporting over 800 active clients across various industries, will complement ABB’s capabilities, extending its reach in key markets such as commercial buildings, data centers, healthcare, manufacturing, and renewables. The transaction is expected to close in the third quarter of 2024, subject to regulatory approvals, further strengthening ABB’s position in electrification services and enabling enhanced operational performance and sustainability for its customers.

(PRESS RELEASE) ZURICH, 17-Feb-2024 — /EuropaWire/ — ABB announced that it has entered into an agreement to acquire SEAM Group, a major provider of energized asset management and advisory services to clients across industrial and commercial building markets.

The acquisition will complement ABB’s Electrification Service offering, bringing significant additional expertise to customers in the areas of predictive, preventive, and corrective maintenance, electrical safety, renewables and asset management advisory services. The transaction is subject to regulatory approvals and expected to close in Q3 2024. Financial terms were not disclosed.

SEAM Group offers a suite of services including strategic advisory, custom training, advanced technology and data management solutions to help clients improve their safety and operational performance by securing asset uptime and improving productivity.

The Company has nearly 250 employees and supports more than 1 million energized assets for over 800 active clients operating across 50 US states, as well as in the Americas, EMEA and Asia. With its presence at around 3,000 customer sites and a strong foothold in fast-growing segments such as commercial buildings, data centers, healthcare, manufacturing and renewables including EV charging infrastructure, SEAM Group will extend ABB’s low- and medium-voltage services where reliable and available power is critical.

“For many industries, every minute of production time counts. Proactive asset management is now a priority for industrial companies to guarantee peak performance of electrical systems and overall operational efficiency, safety and sustainability,” said Stuart Thompson, Division President, ABB Electrification Service.

“This acquisition is part of our ongoing strategy to create a new force in electrification service, broadening our offering and footprint in the US. By sharpening our approach in one of our key markets, we will be able to offer customers complete asset lifecycle management services, while expanding our field service coverage across North America.”

Colin Duncan, Chief Executive Officer for SEAM Group said: “The synergies between SEAM Group and ABB are clear. From our shared values of customer focus, collaboration and enabling a more sustainable future, to our complementary portfolios, together we will deliver new levels of operational performance while supporting companies in their energy transition. We look forward to becoming part of ABB and the opportunity to bring the best of SEAM Group and ABB to our customers.”

ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on over 140 years of excellence, ABB’s more than 105,000 employees are committed to driving innovations that accelerate industrial transformation. www.abb.com

SEAM Group is a global leader in energized asset performance focused on delivering safety, reliability, and maintenance solutions to some of the world’s largest companies. Inspecting more than one million assets annually, SEAM Group offers a proven platform combining strategic advisory, custom training, advanced technology, and actionable data management to position customers for success. seamgroup.com

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SOURCE: ABB