ABB to acquire SEAM Group to expand electrification service offering

ABB have announced that it has entered into an agreement to acquire SEAM Group, a major provider of
energized asset management and advisory services to clients across industrial and commercial building
markets.

The acquisition will complement ABB’s Electrification Service offering, bringing significant additional
expertise to customers in the areas of predictive, preventive and corrective maintenance, electrical safety,
renewables and asset management advisory services. The transaction is subject to regulatory approvals and expected to close in Q3 2024. Financial terms were not disclosed.

SEAM Group offers a suite of services including strategic advisory, custom training, advanced technology
and data management solutions to help clients improve their safety and operational performance by
securing asset uptime and improving productivity.

The Company has nearly 250 employees and supports more than one million energized assets for over
800 active clients operating across 50 US states, as well as in the Americas, EMEA and Asia. With its presence at around 3,000 customer sites and a strong foothold in fast-growing segments such as commercial buildings, data centers, healthcare, manufacturing and renewables including EV charging infrastructure, SEAM Group will extend ABB’s low- and medium-voltage services where reliable and available power is critical.

“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 US. 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.”

Colin Duncan, Chief Executive Officer for SEAM Group, said: “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. We look forward to becoming part of ABB and the opportunity to bring the best of SEAM Group and ABB to our customers.”