Tracy Price to be CEO of New Company

NEW YORK--(BUSINESS WIRE)-- ABM (NYSE:ABM), a leading provider of facility solutions, announced that it intends to enter into a transaction to contribute its "Unified Workforce" software platform into a newly-formed company. Tracy K. Price, who has served as ABM executive vice president and president of ABM Facility Solutions Group, will be leaving ABM to serve as chief executive officer of the new business to be named QMerit.

Unified Workforce is work activity management middleware designed to help companies efficiently and effectively deploy the right personnel to the right place at the right time. By pulling information across multiple platforms into a simple interface and relaying work activity information to workers in the field, Unified Workforce offers a solution designed to benefit companies, their clients and employees.

ABM will retain a minority investment interest in the new company and will receive a non-exclusive right to use and further develop Unified Workforce software for use with its own clients and other third parties.

Price, 57, has served with ABM since December 2010 and has had responsibility for the Building & Energy Solutions business, as well as Corporate Sales and Marketing. He joined ABM when it acquired The Linc Group, for which Price had served as president and chief executive officer since December 2003.

ABOUT ABM

ABM (NYSE:ABM) is a leading provider of facility solutions with revenues of approximately $5.0 billion and 118,000 employees in over 300 offices deployed throughout the United States and various international locations. ABM's service capabilities include electrical & lighting, energy solutions, facilities engineering, HVAC & mechanical, janitorial, landscape & turf, parking and security, provided through stand-alone or integrated solutions. ABM provides custom facility solutions in urban, suburban and rural areas to properties of all sizes — from schools and bank branches to the largest and most complex facilities, such as airports, hospitals and manufacturing plants. ABM Industries Incorporated, which operates through its subsidiaries, was founded in 1909. For more information, visit www.abm.com.

FORWARD-LOOKING STATEMENTS

This press release contains both historical and forward-looking statements. Forward-looking statements are not based on historical facts but instead reflect our expectations, estimates or projections concerning future results or events, including, without limitation, statements regarding our plans to structure Unified Workforce as a standalone business and the timing of such restructuring. Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including, without limitation, whether the structuring of Unified Workforce as a standalone business is completed, as expected or at all, and the timing of such structuring. Investors are cautioned not to place undue reliance on any forward-looking statements contained herein, which are made only as of the date they were made. We undertake no obligation to publicly update or revise any forward-looking statements to reflect new information or the occurrence of unanticipated events or otherwise, except as otherwise required by the federal securities laws.

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ABM
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or
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Source: ABM

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