by Janet B. Stroud — July 1, 2022 — Integrated facility services provider ABM recently announced the establishment of ABM Ventures, the company’s business ventures program and an important extension of its Elevate strategy to accelerate growth through investments in both client and team member experiences and industry-leading use of technology and data.
ABM Ventures will explore new strategic growth opportunities and quicken the innovation cycle through investments primarily in growth-stage companies that are solving for the facility services industry’s biggest challenges, including sustainability, virtual and digital workplace services, and e-mobility.
Scott Salmirs, ABM’s president and CEO, stated:
As one of the world’s largest providers of facility services, ABM has the scale and scope to identify opportunities to deliver solutions for our clients today and in the years ahead. This new program will enable us to nurture and invest in exciting new technologies and ideas that have the potential to create positive, disruptive change for the industry, and in turn help our clients navigate and win in increasingly dynamic markets. ABM Ventures directly aligns with our Elevate plan for growth and expansion — a strategy devoted toward unlocking significant long-term value for all stakeholders and strengthening our industry leadership position.
The new ABM Ventures program is established as a new operating unit of the company’s Strategy, Technology and Transformation organization, led by Chief Strategy Officer Josh Feinberg.
Providing our over 20,000 clients with cutting-edge offerings that drive a significantly more efficient, data-driven and tech-enabled experience is central to our Elevate strategy. ABM Ventures provides a new platform for us to curate and bring innovative solutions to scale and deliver directly to our clients. When combined with our ABMNext innovation program, our internal development of client-facing technology, and our focused M&A strategy, ABM is positioned unlike any other in the industry to adopt the most forward-looking solutions for property owners and facility managers.
ABM Ventures: RTS partnership
ABM Ventures recently completed its first transaction by making a minority investment in Recycle Track Systems (RTS), a provider of cutting-edge traceability and sustainability solutions utilized in the materials, waste, and recycling industry. Through this partnership, ABM clients will have access to RTS’s on-demand waste removal and materials management solutions, including waste and recycling habit analytics, waste pickup optimization and tracking, and development of zero waste and circular economy programs.
RTS is pioneering a better way to manage waste and recycling, combining technology with high-touch service to make waste disposal easier, smarter and more responsible. From on-demand removal to fully integrated waste management solutions, RTS helps companies and municipalities easily track and optimize their pickups. Using data insight, RTS empowers clients with visibility into their waste habits and tangible figures on their climate impact to improve their waste and recycling practices. RTS now serves more than 15,000 commercial customers and 60,000 homes across all 50 States, Canada, and Puerto Rico through a cloud-based software platform, and has coordinated 5,750,000 tons of material verified recycled. RTS is a certified B-Corporation, reflecting its dedication and commitment to meeting stringent standards of environmental transparency and performance.
Helping our clients manage and improve sustainability is core to our mission, and we are focused on providing them with emerging solutions to best reach their sustainability goals. Through our partnership with RTS, ABM clients gain access to innovative, tech-enabled tools that provide real-time transparency into their operations’ waste habits, actionable insights into their climate impact, and expertise to improve their practices overall.
ABM Elevate: Momentum Support acquisition
Reflective of ABM’s Elevate strategy, which includes growth via strategic acquisitions that expand the company’s footprint in attractive geographies and end-markets, the company also announced the acquisition of Momentum Support in April. Momentum is an independent provider of facility services, primarily janitorial, across the Republic of Ireland and Northern Ireland, with a workforce of 2,300.
From curbside to rooftop, ABM offers a comprehensive array of integrated facility services that includes janitorial, engineering, parking, electrical & lighting, energy solutions, HVAC & mechanical, landscape & turf, and mission-critical solutions. ABM delivers these custom facility solutions to properties across a wide range of industries — from commercial office buildings to schools, airports, hospitals, data centers, manufacturing plants and distribution centers, entertainment venues and more. Founded in 1909, ABM today has more than 100,000 team members in 350+ offices throughout the United States, United Kingdom and other international locations.