Investor Relations
Dec 22, 2024 5:13 AM EST
SAN FRANCISCO — November 7, 2005 — ABM Industries Incorporated (NYSE:ABM) announced that it has acquired the customer contracts of Brandywine Building Services, Inc., a facility services company based in Wilmington, Delaware, for approximately $3.6 million in cash. Additional cash consideration of approximately $2.4 million is expected to be paid based on the financial performance of the acquired business over the next four years. With annual revenues in excess of $9 million, Brandywine Building Services is a provider of commercial office cleaning and specialty cleaning services throughout Delaware, southeast Pennsylvania and south New Jersey.
“With the purchase of the assets of Brandywine Building Services, ABM Janitorial acquires contracts for more than 35 million square feet and a seasoned management team focused on two key areas of growth - manufacturing and specialty cleaning,” said Jim McClure, president of ABM Janitorial. “Our corporate priority is to leverage our expertise in these areas, and we welcome the Brandywine team to ABM. We know that they understand that the personal delivery of service in the cleaning industry can differentiate our organization from the competition,” he added.
Commenting on the transaction, Brian Blair, president of Brandywine Building Services, stated, “With ABM's extensive network of contacts and capabilities in the marketplace, our collective resources will further enhance the opportunities for us to better serve current and future customers."
About ABM Industries Incorporated
ABM Industries Incorporated is among the largest facility services contractors listed on the New York Stock Exchange. With fiscal 2004 revenues in excess of $2.4 billion and more than 73,000 employees, ABM provides janitorial, parking, security, engineering and lighting services for thousands of commercial, industrial, institutional and retail facilities in hundreds of cities across the United States and British Columbia, Canada. The ABM Family of Services includes ABM Janitorial; Ampco System Parking; ABM Security Services, which includes American Commercial Security Services (ACSS) and Security Services of America (SSA); ABM Facility Services; ABM Engineering; and Amtech Lighting Services.
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