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PwC’s Corporate Finance team is pleased to announce the sale of ABB’s UK technical engineering consultancy business (the “Business”), part of ABB’s Energy Industries division, to TÜV Rheinland (“TÜV”). PwC supported ABB as lead advisor and provided financial and separation carve-out support.
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.
TÜV Rheinland, founded in 1872, is a leading global testing and inspection service provider. With the acquisition of ABB’s UK technical engineering consultancy business, TÜV seeks to complement its existing risk, safety and integrity management service offering. The Business will be integrated into the Industrial Services and Cybersecurity business of TÜV Rheinland in the UK, creating 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.
The transaction was announced on January 4, 2023, and is expected to close in Q2 2023. The financial terms of the transaction will not be disclosed.
The PwC team
Corporate Finance Switzerland
- Sascha Beer (Partner)
- Michael Huber (Director)
- Alessandro Rossi (Manager)
- Raffael Waldmeier (Senior Associate)
Corporate Finance UK
- Coolin Desai (Partner)
- Malcolm Wren (Director)
- Jamie Berry (Assistant Director)
- Ambreen Rana (Senior Associate)
- Ayman Hussain (Senior Associate)
Financial Vendor Assistance
- Nico Psarras (Partner)
- Stuart Woodcock (Director)
- Quoc Fu Ha (Manager)
- Tanja Gorgieva (Manager)
Separation Vendor Assistance
- Claude Fuhrer (Partner)
- Rense Balk (Director)
- Hartwig Knauer (Manager)
