Cleary Gottlieb is representing ABB in its acquisition of Siemens’ low voltage NEMA motor business.
The financial terms of the transactions were not disclosed. The transaction is expected to close in the second quarter of 2023.
NEMA motors are essential components used to run equipment in industries, such as food and beverage, oil and gas, mining & aggregate, and water & wastewater, and in applications like those that move air, liquids, and units. With manufacturing operations in Guadalajara, Mexico, this acquisition provides ABB with a well-regarded product portfolio, a longstanding North American customer base, and an experienced operations, sales, and management team. The business employs around 600 people and generated revenues of approximately $63 million in 2021.
ABB is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation, and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries.
For more information, please see the press release here.