• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Buyouts

Nordic Capital carves out Full Service from ABB

  • Mikkel Stern-Peltz
  • Mikkel Stern-Peltz
  • @msternpeltz
  • 20 August 2014
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Nordic Capital has acquired ABB Full Service, the maintenance division of Swiss engineering group ABB, from its parent for an undisclosed sum.

The deal sees Nordic Capital carve out Full Service from ABB and establish a standalone company to be headed by Sabrina Vilhena, who will take the reigns as CEO, coming from a position as head of finance for the division.

Full Service was bought through Nordic Capital Fund VIII – the deal is expected to be completed in Q4 of this year, marking Nordic Capital's sixth investment in the last three months.

ABB Full Service

  • DEAL:

    Buyout

  • LOCATION:

    Zurich

  • SECTOR:

    Business support services

  • FOUNDED:

    1988

  • STAFF:

    2,500

  • VENDOR:

    ABB Group

ABB's sale of the division was arranged through a structured process round and auction in spring, with Nordic Capital making the winning offer over the summer.

John Hedberg, principal at NC Advisory, told unquote" the GP was attracted to the solid market fundamentals in Full Services' sector of outsourced industrial services, as well as a growing market and a growing trend of companies outsourcing service and maintenance.

Nordic Capital was impressed by the company's market position and sees good opportunities to help grow the company further on a separate growth path, and Hedberg pointed out that the GP has experience of successful industrial carve-outs.

Plans for the company going forward involve further investment in sales resources, according to Hedberg.

He said the GP is expecting Full Service to be able to grow faster than the market as a separate entity, both within its existing core industrial segment, but also through venturing into related industries, such as food and beverage.

The company will retain the ABB name for a transitional period, after which Full Service will be relaunched with a new brand and move its head offices to Stockholm following completion of the deal.

ABB's divestment is the most recent in a line of sell-offs from the company's portfolio over the past 11 months, which have raised around $1bn for the Zurich-headquartered power and automation technology group.

Company
Currently based in Prague, Full Service provides industrial maintenance services for production facilities and other customers.

The company operates globally, but has a particularly strong presence in Europe and the Nordic region. It employs 2,500 people in 30 countries.

ABB is listed on both the Stockholm and Zurich stock exchanges, as it was founded through a merger of Sweden's ASEA and Brown Boveri & Cie of Switzerland in 1988.

People
Nordic Capital adviser NC Advisory's principal John Hedberg worked on the deal, as did ABB CEO Ulrich Spieshoffer. Sabrina Vilhena will be promoted to CEO of the divested company following completion.

Advisers
Equity – Access Partners (Corporate finance); Baker & Mckenzie (Legal); EY (Financial due diligence); Bain (Commercial due diligence).

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Buyouts
  • Nordics
  • Industrials
  • Switzerland
  • Sweden
  • Nordic Capital
  • Ernst & Young

More on Buyouts

Clinical trials and biotechnology
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • Buyouts
  • 04 September 2023
EMEA Public to Private M&A
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • Investments
  • 04 September 2023
HR software solutions providers
Main Capital’s Assessio to be sold to Pollen Street

Recruitment software company tripled in revenue under Main Capital’s ownership

  • Buyouts
  • 25 August 2023
Ice cream
Exponent divests ‘significant' stake in Meadow to Canadian investor

Since 2018, GP has diversified food ingredients company's focus beyond commodity dairy

  • Exits
  • 22 August 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013