October 12, 2007—ABM Industries Incorporated, a leading facilities services contractor, and OneSource Services Inc. announced that they have signed a definitive agreement under which ABM will acquire OneSource for $365 million in cash.
OneSource provides outsourced facilities services, including janitorial, landscaping, general repair and maintenance and other specialized services, for more than 10,000 commercial, industrial, institutional and retail accounts in the United States.
The transaction combines two valuable facilities services platforms to create the scale, breadth and financial strength necessary to grow in the increasingly competitive and global service provider marketplace, says ABM.
The transaction, subject to regulatory and other customary approvals, is expected to close in November 2007.
Following completion of the transaction, the combined company will operate under the ABM name. It will provide a full range of services, including janitorial, parking, security, engineering, landscaping and lighting services for commercial, industrial, institutional, and retail facilities for its customers in the United States and Puerto Rico, as well as in British Columbia, Canada.
For more information, see the ABM Web site.
