ABM acquisition history

WGNSTAR is a provider of managed workforce solutions and equipment support services for the semiconductor and high-technology industries, operating across the U.S. and in Ireland with more than 1,300 employees. It generates over half of its revenue from integrated workforce programs that supply trained technical teams to chip fabrication facilities, and also offers OEM equipment support services spanning installation, maintenance, and production tool management. ABM announced the deal as a definitive agreement; it had not yet closed as of the filing. approximately $275 million.

WGNSTAR's expertise in semiconductor operations and equipment services will align seamlessly with ABM's strengths in engineering, energy resiliency, and mission-critical solutions. As demand escalates for domestic semiconductor production, we anticipate this transaction will uniquely position ABM to meet our clients' evolving needs.Scott Salmirs — President & CEO, ABM Industries

I am incredibly proud of the business our team has built over the past 22 years since its founding in Ireland. Joining forces with ABM will enable us to better serve our clients in this exciting technology market with integrated and innovative solutions.Nigel Wenden — CEO, WGNSTAR

RavenVolt, headquartered in Alpharetta, Georgia, is a nationwide provider of advanced turn-key microgrid systems used by commercial and industrial customers, national retailers, utilities, and municipalities. It designs and installs customized microgrid solutions, including RavenVolt-branded generators and switchgear delivering modular, redundant power. At acquisition it employed over 80 people and was projected to generate $70-$80 million revenue and $17-$19 million EBITDA in calendar 2022. ABM acquired RavenVolt for $170 million cash on September 1, 2022, with up to $280 million of contingent consideration payable through 2026 if EBITDA targets are met. $170 million cash plus contingent earn-out of up to $280 million.

RavenVolt is a natural complement to our growing energy solutions and EV business, and I am delighted to welcome the team, led by Jonathan Hinton and Eric Scanlon, to the ABM family. Importantly, this transaction includes an earn-out, which strongly incentivizes future outperformance as the business ramps up over the next few years.Scott Salmirs — President & CEO, ABM

Able Services, headquartered in San Francisco and founded in 1926, was the largest family-owned provider of building maintenance, engineering and facility operations in the United States, with revenues of $1.1 billion and adjusted EBITDA of $65 million (normalized for COVID-19 impacts). Engineering services represented roughly 60% of revenue and janitorial about 40%; its 80% unionized workforce served over one billion square feet of real estate. ABM acquired Able in a cash transaction valued at $830 million, announced August 25, 2021 and completed September 30, 2021.

This acquisition is fully aligned with the strategic plan we have developed to accelerate our revenue growth and margin expansion in the coming years. 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.Scott Salmirs — President & CEO, ABM

We are pleased to announce the completion of this strategic acquisition and we welcome Able's talented team to ABM. Together, ABM and Able can more fully address our clients' needs for innovative and cost-effective solutions, supported by our national footprint, comprehensive facility services expertise and dedicated team of more than 100,000 employees.Scott Salmirs — President & CEO, ABM Industries (closing announcement)

GCA Services Group, headquartered in Cleveland, Ohio, was a leading provider of facility services in the education and commercial industries, specializing in facilities maintenance, janitorial services, grounds management, vehicle services and outsourced workforce solutions, with over 37,000 employees across 46 states, the District of Columbia, and Puerto Rico. ABM acquired GCA from affiliates of Thomas H. Lee Partners, L.P. and Goldman Sachs Merchant Banking Division for approximately $1.25 billion in cash and stock; the deal was announced July 12, 2017 and closed September 1, 2017. It was the largest acquisition in ABM's history. approximately $1.25 billion in cash and stock.

This transformative and accretive acquisition will accelerate our 2020 Vision by creating a broader platform upon which we can grow profitably and further distinguish ABM as an industry-focused solutions provider.Scott Salmirs — President & CEO, ABM Industries

We are excited to be joining the ABM family, which will allow us to better serve our clients with more services and greater reach. We believe our combination with a company that shares our vision for profitable growth will lead to significant long-term value for all stakeholders.Bob Norton — Chairman, President & CEO, GCA Services Group

Air Serv Corporation, founded in 2002, was a leading provider of integrated facility management services for the world's leading airlines and freight companies at airports throughout the United States and United Kingdom, employing approximately 12,000 people worldwide. ABM announced the agreement to purchase Air Serv for approximately $158 million in cash on October 8, 2012, subject to certain closing adjustments, and completed the acquisition of all outstanding shares on November 1, 2012. approximately $158 million in cash.

The Linc Group, LLC (TLG), based in Irvine, California, was a premier provider of end-to-end integrated facilities services that improve operating efficiencies, reduce energy consumption and lower operational costs of critical facilities, installations and buildings in the government, commercial and residential markets. TLG's 2009 revenues totaled $579.2 million. ABM acquired TLG for $300 million in cash; the transaction closed December 1, 2010. $300 million in cash.

This is a game changer for ABM's business. Acquiring a firm of TLG's quality transforms our engineering and energy business overnight and completely differentiates us from our competitors... This transaction also brings us into the $70 billion government marketplace, where TLG brings broad experience and deep client relationships.Henrik Slipsager — President & CEO, ABM Industries

The integrated facilities services sector offers substantial growth opportunities driven by increasing demand for efficiency and the growing awareness that power generating resources are finite.Tracy Price — Chairman, President & CEO, The Linc Group

OneSource Services Inc. (London AIM: OSS) provided outsourced facilities services, including janitorial, landscaping, general repair and maintenance and other specialized services, for more than 10,000 commercial, industrial, institutional and retail accounts in the U.S. For the trailing 12 months ended June 30, 2007, OneSource's sales and adjusted EBITDA were approximately $828 million and $8 million, respectively. ABM agreed to acquire OneSource for $365 million in cash ($84.27 per share), announced October 8, 2007 and completed November 14, 2007. $365 million in cash.

We saw an opportunity to accelerate our growth strategy and we seized it. Consistent with our long-held commitment to increasing shareholder value, the acquisition of OneSource complements our strategy and further strengthens our growth prospects.Henrik Slipsager — President & CEO, ABM Industries

We are very pleased to complete this transaction, which provides value to shareholders, service to customers and opportunities for employees. We welcome our new colleagues to ABM as we work to accelerate our growth strategy.Henrik Slipsager — President & CEO, ABM Industries (closing announcement)