| ABM Buys TEGG Franchise Operations ABM Industries Inc. The acquisition also includes the franchise operations of TEGG's subsidiary CurrentSAFE. Headquartered in San Francisco, California, ABM Industries provides engineering, janitorial, parking, and security services to thousands of commercial, industrial, institutional, and retail facilities across the U. The inclusion of TEGG's franchise network will also strengthen ABM's new division, ABM Franchising Group. ABM Industries' strategy entails growth through acquisitions. We retain our Neutral recommendation on ABM Industries. Through the acquisition, ABM will expand its electrical services to include electrical preventive and predictive maintenance solutions. along with Puerto Rico, British Columbia, and Canada. However, a significant portion of Linc's revenues is generated by government contracts and could be negatively impacted by reduced government spending on outsourced services along with payment delays. TEGG's franchisees offer guaranteed services with a comprehensive list of features that provide infrared thermograpy and ultrasonic inspections, de-energized services and electrical systems analysis and reporting. ABM Industries competes with privately held ARAMARK Corporation, Central Parking Corporation and UGL Services UNICCO Operations Co. |
Wednesday, 9 May 2012
ABM Buys TEGG Franchise Operations
