- January 04, 2023
ABB’s technical engineering consultancy sold to TÜV Rheinland.
ABB today announced it has signed an agreement to divest its UK technical engineering consultancy business, a technical engineering consultancy part of its Energy Industries division, to TÜV Rheinland. The transaction is expected to close in Q2 2023. The financial terms of the transaction will not be disclosed.
ABB’s UK technical engineering consultancy including a network of subcontractors and associates has around 160 people operating from two main sites in the northeast and the northwest of England. A specialist team of technical experts helps global energy customers improve process safety, equipment and asset integrity as well as technical design for new and existing industrial plants.
“Our technical engineering consultancy business is highly recognized for the value it brings to customers, and has significant opportunity for growth, enabled by strong industry tailwinds as we navigate the energy transition,” said Troy Stewart, Head of ABB Energy Industries UK. “This divestment follows a two-year strategic review of our portfolio and aims to accelerate the continued growth of the business. TÜV Rheinland is an excellent new home for the technical engineering consultancy business, where it can realize its exciting growth opportunity and create customer value.”
“We look forward to creating growth, stability and opportunity at a time where we are seeing increased demand for sustainability, decarbonization and business continuity,” said Gareth Book, managing director TÜV Rheinland UK. “ABB’s UK technical engineering consultancy will complement the existing risk, safety and integrity management services provided by TÜV Rheinland. Our aim is to build upon the long-standing customer relationships and trust that ABB and TÜV Rheinland have established in the UK over the last two decades.”
ABB’s technical engineering consultancy will be integrated into the Industrial Services and Cybersecurity business of TÜV Rheinland in the UK. The combined business will create a scalable, broad-based technical engineering provider delivering a full-service offer to the high hazard industries, supporting customers in the energy transition and energy security.
About TÜV Rheinland
150 years of safety: Since 1872, TÜV Rheinland’s mission has been to make technology safe for people and the environment. From the steam engine to digitalization, the erstwhile “Verein zur Überwachung der Dampfkessel in den Kreisen Elberfeld und Barmen” (Association for the Inspection of Steam Boilers in the Districts of Elberfeld and Barmen) has evolved into a global testing service provider ensuring safety and quality in virtually all areas of business and life. This responsibility is now shared by more than 20,000 employees, who generate annual revenues of around EUR 2.1 billion. Around the globe, experts from TÜV Rheinland test technical systems and products, support innovations in technology and industry, train personnel in a wide range of professions, and certify management systems according to international standards. With safety and sustainability, TÜV Rheinland is also shaping the future. Since 2006, TÜV Rheinland has therefore been a member of the United Nations Global Compact to promote sustainability and combat corruption.
About ABB Process Automation
ABB’s Process Automation business is a leader in automation, electrification and digitalization for the process and hybrid industries. We serve our customers with a broad portfolio of products, systems, and end-to-end solutions, including our #1 distributed control system, software, and lifecycle services, industry-specific products as well as measurement and analytics, and marine offerings. As the global #2 in the market, we build on our deep domain expertise, diverse team and global footprint, and are dedicated to helping our customers increase competitiveness, improve their return on investment and run safe, smart and sustainable operations.
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 more than 130 years of excellence, ABB’s ~105,000 employees are committed to driving innovations that accelerate industrial transformation.
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