ABB to acquire SEAM Group to expand electrification service offering
Published: 07 March, 2024
ABB has entered into an agreement to acquire SEAM Group, a major provider of energised 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 energised 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 3000 customer sites and a strong foothold in fast-growing segments such as commercial buildings, data centres, 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.”
Chief Executive Officer for SEAM Group added: “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.
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