ABB announces it will acquire the PowerTech Converter (PTC) business, a supplier of auxiliary power converter solutions for light rail vehicles and metros. The acquisition is an important part of ABB Motion’s external growth strategy.
Owned by RCP, PTC is headquartered in Berlin, Germany, and has other facilities in Holzkirchen, Germany, and Mount Olive, USA. With around 280 employees, the business generated revenues of approximately €60 million in 2021.
Increasing industry demand
Financial terms of the transaction were not disclosed, and the deal is expected to close in the fourth quarter of 2022, subject to clearance from relevant regulatory and anti-trust authorities.
“Through the acquisition, ABB will expand its strong presence in the rail segment and will be better positioned to seize growth opportunities resulting from increasing industry demand for sustainable transport solutions,” said Tarak Mehta, President of ABB Motion.
Auxiliary power converters
We are excited about the opportunity to welcome the PTC team to ABB’s worldwide family"
“We are excited about the opportunity to welcome the PTC team to ABB’s worldwide family and look forward to supporting their innovation and growth journey. PTC’s advanced portfolio, which includes PowerBriX with its silicon carbide (SiC) technology, is highly complementary to our own offering and will allow our Traction division to provide customers with one of the most comprehensive ranges of auxiliary power converters on the market.”
“In addition, customers will benefit from additional technologies in the future, resulting from ABB and PTC’s combined efforts to innovate and develop more energy efficient solutions,” said Edgar Keller, President of ABB’s Traction division.
Improving passenger comfort
Auxiliary converters are an essential part of any rail vehicle, as they supply the power needed for vital systems that improve passenger comfort, such as the HVAC system, lighting, safety equipment, doors, as well as charging of the vehicle's batteries.
ABB is a 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.
