TÜV Rheinland agreed Jan. 1 to acquire ABB’s U.K.-based technical engineering consultancy that was part of its energy industries division. TÜV Rheinland will integrate this division into its industrial services and cybersecurity business in the U.K. The transaction is expected to close in 2Q23.
The consultancy has 160 staffers and includes a network of subcontractors and associates. Its technical experts help global energy customers improve process safety, equipment and asset integrity as well as technical design for new and existing industrial plants.
The combined business will create 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.
“We look forward to creating growth, stability and opportunity at a time where we are seeing increased demand for sustainability, decarbonization and business continuity,” says Gareth Book, managing director of TÜV Rheinland U.K. “ABB’s U.K. technical engineering consultancy will complement the existing risk, safety and integrity management services provided by TÜV Rheinland. Our aim is to build on the longstanding customer relationships and trust that ABB and TÜV Rheinland have established in the U.K. over the last two decades.”
Troy Stewart, head of ABB Energy Industries U.K., adds that, “Our technical engineering consultancy business is highly recognized for the value it brings to customers, and has significant opportunity for growth, enabled by strong industry tailwinds as we navigate the energy transition. This divestment follows a two-year strategic review of our portfolio and aims to accelerate the continued growth of the business. TÜV Rheinland is an excellent new home for the technical engineering consultancy business, where it can realize its exciting growth opportunity and create customer value.”
