On December 3,ABB announced the acquisition of Solutions Industry & Building(SIB), based in Boulay-Moselle. The company, which has been owned by the French investment fund Galiena Capital since 2019, specializes in electrical installation equipment and connection systems for the construction sector, cable glands, couplings and accessories for the electrical, rail, marine and mining industries, as well as certified products for potentially explosive atmospheres such as oil and gas applications. The purchase price was not disclosed in ABB’s press release. Last year, SIB generated global sales of around 25 million euros.
The acquisition is intended to expand ABB’s portfolio of cable protection systems and strengthen the technology group’s presence in specialized markets in Europe, the Middle East and North America. “The need for safe, reliable electrification solutions is growing, and with the acquisition of SIB we are adding an industry-leading portfolio and 100 years of experience to our expertise and product range in highly specialized markets,” said Khalid Mandri, Head of ABB’s Installation Products Division, in the press release. According to him, the acquisition is in line with ABB’s strategy “to invest in areas that extend our reach in key markets”.
