ABM Industries Inc. announced that the Linc Group, TLG, acquired for $ 300 million in cash.
ABM, which operates through its subsidiaries, is an American provider of facility services.
"This is a game changer for the ABM business," said Henrik Slipsager, President and CEO, ABM Industries Inc. "The acquisition of a company of TLG, the quality of our engineering and Energy transformed overnight, and completely defines us apart from our competitors. This strengthens the ABM in a high-growth segment and strengthens our leadership position in the service industry facilities. The combination of ABM existing Engineering Division with TLG, we can get two units with an impressive track record of double digit growth in sales and earnings. engineering operations are combined in the vicinity of $ 1000000000 revenue. "
Slipsager continued, "With this step, we are in an excellent position to key customers with solutions delivered to international efforts to green building and energy efficiency to meet us providers do of choice for customers who bring this for us in .. government contract 70000000000 $, where TLG brings broad experience and deep client relationships. It's a winning combination, where we gain new customers and geographical reach, and the combined team has the talent of our growth. "
TLG Chairman, President and CEO Tracy Price is to be the president of the combined Group ABM Engineering and reports directly to Slipsager. The price will continue to work from Irvine, California.
"Integrated services Facilities sector offers significant opportunities for growth by increasing demand for efficiency and the realization that resources are limited generation engine," said Price. "Including these possibilities: the increasing use of service facilities of third party suppliers, the increasing focus on" green buildings "and energy efficiency, the convergence of energy and communication, international expansion and research cost of facilities management service for large appliances. Our experience with critical systems, custom solutions and advanced technologies, we are well positioned to capitalize on this market. merger with ABM offers new opportunities for our customers and employees, and our team is excited to take the opportunity we have to a new level under the auspices of Henrik and ABM built. "
Slipsager added: "Our companies complement each TLG The combined company will offer vertical and geographic markets, add ABM through the use of the existing businesses of both TLG and ABM, we will provide customers with installation services truly integrated .. and turn - key solutions internally, we are particularly concerned excited by the benefits that brings to the table TLG existing relationships and many work in the public sector, expansion of international activities and skills-based technology, including work on energy efficiency and modernizing very complicated ..
Thursday, December 16 is the ABM for a conference for investors and analysts in New York, where the expected impact of the acquisition are examined in detail. The meeting will be distributed and other details will follow in a subsequent communication.
More information:
www.abm.com
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