Investor Relations
Dec 22, 2024 5:13 AM EST
Founded in 2002, Air Serv employs approximately 12,000 employees
worldwide and is a leading provider of integrated facility management
services for the world's leading airlines and freight companies at
airports throughout
"We are excited by the potential Air Serv brings both ABM and its
clients," said
"ABM and Air Serv share a vision of delivering innovative and cost
effective services to our clients," said
Slipsager continued, "Tom and his team have a great track record building and leading a client-focused aviation services company. We're looking forward to Air Serv's talented global workforce bringing its experience and commitment to superior aviation solutions to ABM."
ABM expects the transaction to be slightly accretive to earnings per share in fiscal 2013, and to continue to build accretion thereafter.
The transaction, which is subject to regulatory approval and other
customary closing conditions, is expected to close in
Cautionary Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements that set forth
management's anticipated results based on management's current plans and
assumptions. Any number of factors could cause the Company's actual
results to differ materially from those anticipated. These factors
include but are not limited to the following: (1) we may not be able to
consummate the proposed acquisition of Air Serv, if closing conditions
are not satisfied or waived; (2) we may not be able to achieve
the strategic and other objectives related to the proposed acquisition
of Air Serv, including any expected synergies; (3) we may not achieve
expected growth or sustain current revenues related to the Air Serv
business if there is a contraction in demand for these services due to
reduced air travel, increased competition or other factors; (4) we may
not be able to successfully integrate Air Serv and achieve the
expected results of the acquisition, including, without limitation, the
acquisition being accretive; (5) we may not be able to retain key
members of the Air Serv management team; (6) the acquisition of Air Serv
may divert management's time and focus from operating our business to
acquisition integration; and (7) we may encounter material unanticipated
costs relating to the Air Serv acquisition. Additional
information regarding other risks and uncertainties the Company faces is
contained in the Company's Annual Report on Form 10-K for the year ended
ABOUT ABM
ABM (NYSE:ABM) is a leading provider of integrated facility solutions.
Thousands of commercial, industrial, government and retail clients
outsource their non-core functions to ABM for consistent quality service
that meets their specialized facility needs. ABM's comprehensive
capabilities include expansive facility services, energy solutions,
commercial cleaning, maintenance and repair, HVAC, electrical,
landscaping, parking and security, provided through stand-alone or
integrated solutions. With more than
ABM
Investors & Analysts:
(212) 297-9792
dfarwell@abm.com
or
Media:
(770) 953-5072
chas.strong@abm.com
Source:
News Provided by Acquire Media
Minimum 15 minutes delayed. Source: LSEG