ABB to divest its Full Services business to Nordic Capital
Mary Page Bailey
ABB (Zurich, Switzerland; www.abb.com) has signed an agreement to divest the ABB Full Service business to Nordic Capital for an undisclosed amount. The sale is expected to close in the fourth quarter of 2014, subject to regulatory approval.
The ABB Full Service business provides fully outsourced industrial maintenance services. ABB Full Service was developed as an adjacent business to ABB’s life-cycle service business and has become a successful stand-alone business unit. ABB is divesting this business because of limited synergies with ABB’s core portfolio. ABB will continue to supply its standard life-cycle services for the company’s installed base.