ABB completes acquisition of Thomas & Betts

ABB (NYSE: ABB) has completed the acquisition of Thomas & Betts, a Tennessee-based provider of low-voltage products.

The deal will double ABB’s addressable market in North America to approximately $24 billion. Bank of America Merrill Lynch acted as financial advisor to ABB and Kirkland & Ellis LLP acted as the main legal advisor. Deutsche Bank Securities Inc. was the financial advisor for Thomas & Betts and Davis Polk & Wardwell LLP was the legal advisor.

Dominic Pileggi will remain as chairman of Thomas & Betts, and Charles Treadway, previously the chief operating officer, is now the CEO in Pileggi’s place. The headquarters remains in Memphis. In addition, Thomas & Betts shares have stopped trading on the New York Stock Exchange.

Read more mergers and acquisitions news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...