ABB Acquires SEAM Group for Industrial Transformation
ABB has announced that it will acquire SEAM Group, an asset management provider which works across industrial building markets. The transaction will close in Q3 2024, but is subject to regulatory approvals first.
The acquisition will support ABB’s Electrification Service offering and bring in greater expertise to customers who work in predictive, preventive and corrective maintenance, as well as electrical safety and renewables.
ABB is pioneering industrial transformation with SEAM Group collaboration
ABB is based in Zürich, Switzerland, and was founded in 1988. Its 105,000 employees are ‘committed to driving innovations that accelerate industrial transformation’. As a leader in electrification and automation, ABB’s solutions connect engineering know-how and software to optimise how things are manufactured. In 2023, the company hit US$31bn revenue.
ABB recently featured in our ‘Top 10: Manufacturing Technology Companies’.
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SEAM Group offers strategic advisory, custom training, advanced technology and data management solutions to its customers, in order to advance their safety and operational performance. The Ohio-based company has 3,000 customer sites and works across data centres, healthcare and renewables - including EV charging infrastructure - as well as the manufacturing sector.
In this partnership, SEAM Group will extend ABB’s low- and medium-voltage services where reliable and available power is important.
Synergies for enhanced operational performance and sustainable solutions
For Colin Duncan, Chief Executive Officer for SEAM Group, 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,” says Duncan. “We look forward to becoming part of ABB and the opportunity to bring the best of SEAM Group and ABB to our customers.”
“Today is a very exciting day for ABB Electrification Services,” agrees Pedro Robredo, Senior Vice President Services, Americas Hub ABB. “We signed an agreement to acquire SEAM Group that will expand our services footprint in the US, fortify our product offering in segments like commercial buildings and light industrial, and accelerate our advisory services solutions for our customers. I’m looking forward to integrating our organisations and our complimentary portfolios to grow the business together and deliver solutions to our customers that enhance their operations and help them meet their sustainability goals.”
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