Home

BSM Buyers Guide

Midlab

Fluke

Discover

Vijon

EPDM

AccuMax

ExpressTime

OSHAToes

Roof Hugger

 

Follow Us
Join Us on Facebook Join us on Twitter

 

 



ABM Industries Completes Acquisition of GCA Services Group

Print Article Contributed by BSM Staff

NEW YORK -- ABM Industries Inc., a provider of facility solutions, has completed its acquisition of GCA Services Group for approximately $1.25 billion, consisting of approximately $851.0 million in cash and 9.5 million shares of ABM common stock, from affiliates of Thomas H. Lee Partners, L.P. and the Goldman Sachs Merchant Banking Division.

The cash portion of the purchase price is subject to normal adjustments for working capital and certain other items. The Company previously announced the signing of a definitive agreement to acquire GCA on July 12, 2017.

GCA is a provider of facility services in the education and commercial industries. The acquisition is expected to add approximately $1.1 billion in annual revenues and adjusted EBITDA of approximately $100 million.

"We are pleased to announce the successful completion of this transformative acquisition,” said Scott Salmirs, president and CEO of ABM Industries. “The talent and industry expertise that GCA brings will broaden ABM's reach and further distinguish ABM as an industry-focused solutions provider. We are excited to begin the integration phase as we are eager to unlock the value this combination will bring to our clients, our employees and our shareholders."

The acquisition aligns with the core principles of ABM's 2020 Vision Strategy of achieving long-term profitable growth.  GCA's industry-focused approach is expected to complement ABM's client-centric organizational structure and produce cost synergies of approximately $20 million to $30 million by the second full year of ownership.

ABM will discuss this transaction, as well as its future integration plans, in greater detail on the Company's third quarter 2017 earnings conference call Thursday, September 7, at 8:30 a.m.

Founded in 1909, ABM had revenues of approximately $5.1 billion in 2016, and over 130,000 employees in 350+ offices throughout the United States and various international locations.

For more information, visit www.abm.com.

 

 

 

 

 

 

 

 

 

Email Newsletter icon, E-mail Newsletter icon, Email List icon, E-mail List iconSign up for our Email Newsletter
Type your email address here

WEB BSM

Kutol

Snoblo

CleanNet

Working Concepts

Trash Can Depot

Excel

Lignomat