Cleary Gottlieb is representing ABB in the formation of a 50/50 joint venture with the Niedax Group (Niedax) to deliver advanced cable tray solutions and services to electrical contractors, distributors, and systems integrators across the United States, Canada, and Mexico.
The binding agreement between ABB and Niedax was signed on May 6, 2024. The transaction is expected to close by the fourth quarter of 2024, subject to customary closing conditions. The financial terms of the transaction were not disclosed.
ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered, and operated. Building on over 140 years of excellence, ABB’s more than 105,000 employees are committed to driving innovations that accelerate industrial transformation.
For more information, please see the press release here.