ABB acquires France’s Solutions Industry & Building

On December 3, ABB announced the acquisition of Solutions Industry & Building (SIB) with headquarters in Boulay-Moselle. The company has been part of the French investment fund Galiena Capital since 2019 and specializes in electrical installation equipment and connection systems for the construction industry; cable glands, couplings and accessories for the electrical, railway, shipping and mining industries; and certified products for explosive areas as with oil and gas applications. The purchase price is not mentioned in the corresponding press release from ABB. Last year, SIB earned around 25 million euros in global sales.  

The acquisition is intended to expand ABB’s cable protection system portfolio and reinforce the technology company’s presence in specialized markets in the Europe, the Middle East, and North America. Khalid Mandri, President ABB Installation Products Division, commented in the press release: “The need for safe and reliable electrification solutions continues to grow, and the addition of SIB brings an industry-leading portfolio and century of expertise to expand our capabilities and product range in highly specialized markets.” He added that the acquisition is in line with ABB’s strategy to invest in opportunities that extend the company’s reach in key markets. ce/hs