Invensys plc has signed an agreement to sell the majority of the organisation’s ABS(Advanced Building Systems)business across its EMEA (Europe,Middle East and Africa)locations to Schneider Electric SA of France in a US$150 million(£81 million)deal.
The transaction,which is subject to regulatory and final Board approvals,is expected to be concluded before the end of the summer and will see Schneider Electric take over the entire business with the exception of two Barcol Air manufacturing operations in the Netherlands and Switzerland and the contracting and services business in Poland.
ABS EMEA is the leading provider of BMS technology in the UK under the Satchwell name and has a strong presence across the rest of Europe and the Middle East.
The transaction includes Satchwell in the UK,Atmostech in Finland, Controlli in Italy,Messner in Germany and a number of other businesses operating under the Satchwell name across Europe and Middle East.The acquired ABS EMEA business units will become part of Schneider Electric’s Tour Andover Controls(TAC)division based in Malmo,Sweden.
The acquisition is a synergistic one and will bring complementary expertise,product innovation and market coverage to Schneider Electric through Advanced Building Systems’ portfolio of products, brands and distribution networks.
David LeSage,Managing Director of ABS commented:“We have already identified some strong dynamics between Schneider Electric’s market operations and our own,and both parties are totally committed to continuing to develop our position as a worldclass supplier of building management systems.
“We shall continue to work alongside our strategic third party partners,OEM’s and wholesalers,and will be meeting with them at an International conference to start charting our continued and mutual growth.ABS is a strong business across the region,and Schneider Electric’s management and brand expertise will complement our existing capabilities”.
