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Nordic Capital picks up ABB Full Service from parent business

20 Aug 2014

ABB full serviceEuropean buyout major Nordic Capital has agreed to buy ABB Group’s performance-based maintenance business ABB Full Service.

The Czech Republic-based company has overseen more than 300 performance-based maintenance agreements in the past 20 years, and currently manages a yearly customer spend of over $500m.

Financial details of the deal, which is expected to close in the fourth quarter, were not disclosed.

John Hedberg, principal at Nordic Capital fund advisor NC Advisory, said, “We are very excited to work together with the management team to invest and further accelerate the growth and development of Full Service.

“There is a clear value in establishing an independent business, fully focused on developing its customer offering and thereby solidifying its position as a global leader in the growing market for industrialised maintenance.

“We are very impressed by the Full Service business and the competence and commitment of the employees.”

Full Service is expected to move its headquarters to Sweden following the deal, which will see the company renamed and rebranded after a transitional period.

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