Acquisition Expands ABM Franchising Group and Strengthens Electrical
Services Capabilities
NEW YORK--(BUSINESS WIRE)--
ABM (NYSE:ABM), a leading provider of integrated facility
solutions, today announced that Linc Network, LLC, a subsidiary of ABM
Facility Solutions, has acquired the franchise operations of TEGG
Corporation, an expansive network delivering comprehensive electrical
service and preventive and predictive maintenance solutions to
commercial and industrial facilities. TEGG's franchise network,
concentrated mainly in North America, spans 19 countries — expanding
ABM's international reach, increasing its service network and supporting
the Company's vision of becoming the global leader in integrated
facility solutions.
"TEGG is a perfect fit for ABM," said Scott Giacobbe, President of ABM
Building and Energy Solutions. "Our business philosophies, strategies,
processes and commitment to clients are very similar. This allows us to
quickly leverage TEGG's proven service product and delivery method to
broaden ABM's existing vertical and geographic market offerings by
increasing the services, geographic presence and added value we bring to
our clients. The acquisition strategically positions us to expand our
capabilities in electrical services and complements our existing
mechanical footprint, helping us to provide our clients with more
comprehensive solutions to meet and exceed their facility needs."
Over the last twenty years, TEGG's franchisees have protected commercial
and industrial facilities from electrical system failures, electrical
fires and resultant business interruptions and property damage. TEGG's
franchisees offer guaranteed services with an extensive list of features
including infrared thermograpy and ultrasonic inspections, de-energized
services and electrical systems analysis and reporting. Through the
acquisition of the TEGG franchise network, ABM will expand its
electrical services to include electrical preventive and predictive
maintenance solutions.
The acquisition of TEGG's franchise network also strengthens ABM's new
division, ABM Franchising Group, which includes Linc Network, one of the
world's largest, leading commercial HVAC contractor networks, and
GreenHomes America (GHA), a national provider of home performance
contracting. The acquisition also includes the franchise operations of
CurrentSAFE, a TEGG subsidiary. CurrentSAFE is a national residential
electrical safety franchisor that will be highly complementary to GHA.
The Chief Operating Officer of Linc Network and GreenHomes America, Bert
Kendall, will oversee the ABM Franchising Group, which will now add TEGG
and CurrentSAFE franchise operations to its expanding portfolio of
businesses.
"Our commitment to providing comfort, energy savings and safety to
building owners worldwide makes this acquisition a natural fit," said
Bert Kendall. "We look forward to the expanded opportunities that will
come from adding TEGG and CurrentSAFE to our growing family of brands
and services."
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 $4 billion in revenues and 100,000
employees deployed throughout the United States and various
international locations, ABM delivers custom facility solutions to meet
the unique client requirements of multiple industries —- ranging from
healthcare, government and education to high-tech, aviation and
manufacturing. ABM leverages its breadth of services, deep industry
expertise and technology-enabled workforce to preserve and build value
for clients' physical assets. ABM Industries Incorporated, which
operates through its subsidiaries, was founded in 1909. For more
information, visit www.abm.com.
ABM
Media:
Tony Mitchell
212-297-9828
tony.mitchell@abm.com
or
Kristy
Miller
770-521-7522
kristy.miller@abm.com
or
Investors
& Analysts:
David Farwell
212-297-9792
dfarwell@abm.com
Source: ABM
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