December 10, 2003—Affiliated Building Services ended its tenure as an unconsolidated affiliate of Enron Energy Services today, as a management-led buyout (MBO) purchased Enron’s majority stake in the company.
In a much-anticipated move, four longtime companies in the building trades industry, previously known as ServiceCo, were reconstituted as The Linc Group. The change in corporate ownership was led by the management team with financial backing from Global Innovation Partners LLC, whose lead investor is the California Public Employees Retirement System (CALPERS).
The Linc Group is made up of four companies—the Linc Corporation, Linc Service Holdings, Affiliated Building Services (ABS), and Integrated Process Technologies (IPT). The announcement, which was approved by the Enron bankruptcy court in November, completes the disposition of the ServiceCo companies.
ABS, headquartered in Houston, Texas, is a full-service national facility management service provider. The company has a strong client base in aviation, industrial and high technology facilities. ABS currently manages approximately 100 million square feet of property for over 50 customers in 38 states across the country.
For more information, visit ABS.
