Facility solutions provider ABM will acquire Able Services for $830 million; the acquisition will bolster ABM’s sustainability and energy efficiency offerings amid growing demand for environmentally responsible solutions, the company says. Able provides facility services to over a billion square feet of real estate, which will strengthen ABM’s national presence.
The company expects to achieve approximately $30 million to $40 million in cost synergies, the majority of which are expected be realized within the first year following completion of the transaction.
ABM offers facility solutions to organizations in technology and manufacturing, aviation, education and healthcare. Its offerings help companies improve efficiency, maximize maintenance budgets, and remain compliant.
One recent ABM project is the McKeesport Area School District in western Pennsylvania. The school district is working with the company, via an energy performance contracting program, to update HVAC systems and make other improvements, thereby saving the district $7.8 million in energy and operating costs.
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