ABM Industries Acquires Diversco, Inc.
Company Expands Geographic Footprint & Client Services with
Acquisition of National Provider of Outsourced Facility Services
NEW YORK, Jun 30, 2010 (BUSINESS WIRE) -- ABM Industries Incorporated (NYSE: ABM) announced today that ABM Janitorial Services, Inc., a wholly owned subsidiary of ABM Industries, has acquired all of the outstanding shares of Diversco, Inc., from DHI HOLDINGS, Inc. The cash transaction closed June 30, 2010. ABM Industries, which operates through its subsidiaries, is the United States' leading provider of facility services.
Founded in 1968 as a janitorial services company, Diversco today employs 3000 people and is a national provider of outsourced facility services, with a strong manufacturing and industrial client base in the Southeast, Midwest and Mid-Atlantic regions of the United States. Diversco's services include a range of commercial cleaning and facility services, as well as security services primarily for manufacturing clients. In the fiscal year that ended March 31, 2010, Diversco generated revenues of $79.3 million.
"The acquisition of Diversco strategically expands ABM's janitorial and security businesses - within key regions across the country and among key client segments," said Henrik Slipsager, president and chief executive officer, ABM Industries. "Diversco's business also complements our operations infrastructure and national presence."
At ABM, Diversco's operations will be integrated under Jim McClure, executive vice president of ABM Industries and president, ABM Janitorial Services.
Said McClure: "Over the course of more than 40 years, Diversco has built a strong facility services business with a loyal and large client base who value their extensive offerings, geographic reach and specialized service capabilities. We are confident that this terrific business will find a natural home at ABM."
The Company expects that Diversco will be integrated by the end of calendar year 2010.
About ABM Industries Incorporated
ABM Industries Incorporated (NYSE:ABM), which operates through its subsidiaries (collectively "ABM"), is the leading provider of facility services in the United States. With fiscal 2009 revenues of approximately $3.5 billion and more than 90,000 employees, ABM provides janitorial, facility, engineering, parking and security services for thousands of commercial, industrial, institutional and retail facilities across the United States, Puerto Rico and British Columbia, Canada. ABM's business services include ABM Janitorial Services, ABM Facility Services, ABM Engineering Services, Ampco System Parking and ABM Security Services. For more information visit www.abm.com.
SOURCE: ABM Industries Incorporated
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