Salmir Kaplan

ABM Announces “ELEVATE” Strategy for Value Creation and Growth at its 2021 Investor Day

Retrieved on: 
Wednesday, December 15, 2021

NEW YORK, Dec. 15, 2021 (GLOBE NEWSWIRE) -- ABM (NYSE: ABM), a leading provider of integrated facility services, today hosted a virtual Investor Day where President and CEO Scott Salmirs and other members of ABM’s senior leadership team presented the Company’s strategic growth plan and financial targets. ABM’s industry-leading COVID-19 response and recent acquisition of Able Services together serve as a launchpad for the next phase of ABM’s evolution. The Company is well-positioned to leverage market trends, optimize the business and innovate – all while driving profitable growth.

Key Points: 
  • The Company is well-positioned to leverage market trends, optimize the business and innovate all while driving profitable growth.
  • Forming a new industry group: ABM announced the formation of a new Manufacturing & Distribution (M&D) group to replace ABMs Technology & Manufacturing (T&M) group.
  • E-commerce growth has led to a boom in U.S. distribution and warehouse space that is now reaching urban markets.
  • A replay of ABMs 2021 Investor Day will be available on the Investor section of the Companys website located at www.abm.com/investors , and for more information on ELEVATE, please visit www.abm.com/elevate .

ABM Industries Announces Definitive Agreement to Acquire Able Services

Retrieved on: 
Wednesday, August 25, 2021

NEW YORK, Aug. 25, 2021 (GLOBE NEWSWIRE) -- ABM (NYSE: ABM), a leading provider of facility solutions, announced today that it has reached a definitive agreement to acquire Able Services, a leading facilities services company headquartered in San Francisco, in a cash transaction valued at $830 million. The transaction is expected to close by the end of September, subject to approval under the Hart-Scott-Rodino Antitrust Act and other closing conditions.

Key Points: 
  • Increases ABMs Engineering and Technical Services Revenues to $2 Billion, Expanding Sustainability & Energy-Efficiency Offerings
    NEW YORK, Aug. 25, 2021 (GLOBE NEWSWIRE) -- ABM (NYSE: ABM), a leading provider of facility solutions, announced today that it has reached a definitive agreement to acquire Able Services, a leading facilities services company headquartered in San Francisco, in a cash transaction valued at $830 million.
  • Engineering services represents approximately 60% of their total revenues, with janitorial services accounting for approximately 40%.
  • Able represents an excellent strategic and cultural fit for us, adding to our scale in engineering and janitorial services, which represent priority growth areas for ABM over the next five years.
  • This press release contains both historical and forward-looking statements addressing the plan of ABM Industries Incorporated (together with its subsidiaries, collectively referred to as ABM, we, us or our) to acquire Able Services (together with its subsidiaries, collectively referred to as Able).