SEAM Group to Be Acquired by ABB: A Strategic Move to Drive Client’s Electrification and Operational Excellence Offering

BEACHWOOD, Ohio, February 20, 2024 (Newswire.com) - SEAM Group announced today that it has entered into an agreement to be acquired by ABB, a global technology leader in electrification and automation. The transaction is subject to regulatory approval and is expected to close in Q3 2024. Financial terms were not disclosed.

By acquiring SEAM Group, ABB strengthens its Electrification Service offering to meet the increasing industrial demands to modernize and optimize assets for safer, smarter, and more sustainable operations. This strategic investment combines ABB's leading-edge technologies and service portfolio with SEAM Group's established expertise in predictive/preventive/corrective maintenance, electrical safety, renewables, custom training, asset management advisory, and advanced technology-driven data management to deliver safety and operational excellence.

SEAM Group partners with over 800 clients to align safety and uptime at more than 3,000 sites in the U.S., the Americas, EMEA, and Asia. By joining forces, SEAM Group expands ABB's low- and medium-voltage service offerings, particularly within key growth segments in which power availability and reliability are critical, like commercial properties, logistics and distribution, data centers, healthcare, manufacturing, and renewables, including the rapidly evolving EV charging infrastructure market.

"This next chapter with ABB represents a thrilling leap forward for our valued customers," said SEAM Group Chief Executive Officer Colin Duncan. "By joining forces, we unlock exciting synergies: shared customer focus, a united drive for sustainability, and complementary service portfolios. Together, we will deliver new levels of operational performance while supporting companies in their energy transition. We look forward to integrating the best of SEAM Group and ABB, ultimately delivering unparalleled value to our clients."

"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 U.S. 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."

About SEAM Group

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. Visit http://www.seamgroup.com/blog for company news.

About ABB

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