ABM Building & Energy Solutions, a division of ABM Industries Inc.’s (ABM) Facility Solutions Group, recently acquired Airco Commercial Services Inc. for an undisclosed amount to augment its Northern California presence.
Airco Commercial is a leading provider of heating, ventiallation and air conditioning (:HVAC) service, energy solutions and building controls in commercial and industrial buildings in Northern California. With the acquisition, ABM is expected to provide energy-efficient solutions to electrical, engineering, janitorial, landscape, security and parking clients throughout the region. This deal will likely strengthen its position in the market and unlock additional values by generating incremental revenue stream. The deal would further enable ABM to minimize operating expenses for its clients.
ABM aims to strategically expand through both organic and inorganic growth. The acquisition is also in sync with its vision of becoming a single-source service provider for all facility services.
ABM, a leading provider of facility solutions, provides engineering, janitorial, parking, and security services to thousands of commercial, industrial, institutional, and retail facilities. The company has realigned its operational structure to an on-site, mobile and on-demand market based structure. This realignment has improved its long-term growth prospects and provides higher margin opportunities by enabling it to better deliver end-to-end services to its clients across urban, suburban and rural areas.
ABM currently holds a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look include Treehouse Foods, Inc.(THS), carrying a Zacks Rank #1 (Strong Buy), and Rollins Inc. (ROL) and Pinnacle Foods Inc. (PF), both carrying a Zacks Rank #2 (Buy).