Schneider Electric Acquires Abacus Engineered Systems To Create Industry Leader in Energy Performance
November 24th, 2004 - Schneider Electric announced today the acquisition of Abacus Engineered Systems, a US-based leading provider of facility energy and engineering solutions, with sales of approximately $30 million in 2003 and 86 employees.
Since 1985, Abacus Engineered Systems has played a key role in helping customers maximize their facility's comfort and efficiency. Its goal is to develop custom solutions that lower operating costs and improve safety. Abacus provides complete building installations analysis, design and post-construction services from its Seattle headquarters as well as its offices in New York, Pennsylvania, Oregon, Virginia, Massachusetts and Arizona, and specializes in ensuring facilities operate efficiently.
In 2004, Frost & Sullivan recognized Abacus as the high performance leader in energy services and ASHRAE (American Society of Heating, Refrigerating and Air-Conditioning Engineers) honored Abacus with technology award. More information is available on www.abacus-engr.com.
Both Abacus and TAC Energy Solutions division deliver energy performance and engineering solutions to education, state and local governments, health facilities, the telecommunications industry and the military. TAC Energy Solutions has a strong market presence in the Southwest, Midwest and the Southeast United States that is very complementary to the positions of Abacus in the Northwest,
Mid-Atlantic and Northeast regions. Abacus will be merged into TAC Energy Solutions division.
"Combining Abacus and TAC Energy Solutions creates the fastest growing and most innovative company in the energy performance industry", said Eric Pilaud, Executive Vice President - Strategic Deployment of Schneider Electric. "Both companies share a commitment to delivering long-term solutions for managing their customers' energy needs, enabled by their technical expertise and very strong experience. Abacus will benefit from the resources of TAC and Schneider Electric, while TAC will gain from the engineering and marketing expertise of Abacus."
TAC has been acquired in June 2003 by Schneider Electric, the world's specialist in power and control, followed by Andover Controls in May 2004. TAC and Andover Controls have been combined by Schneider Electric to create its new growth platform in the building automation industry, with 2,700 employees and combined sales of approximately €500 million in 2003. This new entity, Tour Andover Controls, provides added value to customers through building services for indoor climate, security and use of energy, delivered with advanced technology and integrated solutions for building IT. More information is available on the Internet at www.tac.com and www.andovercontrols.com.
About Schneider Electric
Schneider Electric is the world's power and control specialist. Through its world-class brands, Merlin Gerin, Square D and Telemecanique, Schneider Electric manufactures and markets a comprehensive range of products and services for the residential, buildings, industry, and energy and infrastructure markets.
Schneider Electric has 85,000 employees worldwide, operations in 130 countries and recorded sales of
€8.8 billion in 2003 through 13,000 sales outlets.
Schneider Electric: Giving the best of the New Electric World, to everyone, everywhere, at any time