An investor group led by ACON Investments LLC, in partnership with former managers of ABB Asea Brown Boveri Ltd (ABB), said Monday it acquired ABB’s Power Lines Components manufacturing businesses in Monterrey, Mexico, and Belo Horizonte, Brazil.
Terms of the transaction were not disclosed.Under ACON´s ownership, the two businesses will be integrated into a single, independent company and will be renamed SAE Towers, headquartered in Houston, Texas. Luigi Ruggieri, formerly a Director at ABB’s Power Lines Components Division, will serve as SAE Towers’ CEO.
SAE Towers will have more than 90,000 metric tons of annual production capacity, making it the largest manufacturer of steel lattice towers in the Western Hemisphere.
ACON’s acquisition comprises all the assets of the businesses, including the management and employees, engineering designs and systems, automated fabrication processes and testing facilities.