ABM INDUSTRIES INC /DE/ acquired Facility cleaning & engineering services assets (Control Building Services-Northeast Janitorial Services Division, Control Engineering Services, Inc. and TTF, Inc.) for $15.0 million plus up to $1.6 million contingent, a transaction completed in May 2009, structured as Asset purchase (customer contracts and relationships).
Facility cleaning & engineering services assets (Control Building Services-Northeast Janitorial Services Division, Control Engineering Services, Inc. and TTF, Inc.) operates in Janitorial / facility maintenance and engineering services, is based in New Jersey and New York, USA. ABM acquired certain assets — primarily customer contracts and relationships — controlled by Control Holding Group, Inc., including the businesses of Control Building Services-Northeast Janitorial Services Division, Control Engineering Services, Inc. and TTF, Inc. The acquired operations generated roughly $50 million in annual revenue providing facility maintenance and engineering services to commercial, retail, institutional and pharmaceutical clients, mainly in New Jersey and New York, and brought more than 1,000 employees including skilled engineers to ABM.
Add facility maintenance and engineering contracts, skilled engineering staff and roughly $50 million of revenue in the Northeast, expanding ABM's janitorial and engineering service lines.
Advisory firms were not disclosed for this transaction.