HVAC Breaking News

Dec. 9, 2004: Schneider Electric Acquires Abacus Engineered Systems

MALMO, Sweden - Schneider Electric has announced, through its subsidiary TAC/Tour Andover Controls, the acquisition of Abacus Engineered Systems, a U.S.-based provider of facility energy and engineering solutions.

Abacus Engineered Systems, with sales of approximately $30 million in 2003 and 86 employees, provides building analysis, design, and post-construction services from its Seattle headquarters as well as offices in New York, Pennsylvania, Oregon, Virginia, Massachusetts, and Arizona.

Both Abacus and TAC Americas Energy Solutions division deliver energy performance and engineering solutions to education, state and local governments, health facilities, the telecommunications industry, and the military. According to Schneider Electric, TAC Americas Energy Solutions has a strong market presence in the Southwest, Midwest, and Southeast regions of the United States that is complementary to the positions of Abacus in the Northwest, Mid-Atlantic, and Northeast regions. Abacus will be merged into the TAC Americas Energy Solutions division.

"Combining Abacus and TAC Americas Energy Solutions creates the fastest growing and most innovative company in the energy performance industry," said Arne Frank, chairman and CEO of TAC/Tour Andover Controls. "Both companies share a commitment to delivering topnotch 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."

For more information, visit www.tac.com, www.andovercontrols.com, and www.schneider-electric.com.

Publication date: 12/06/2004

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