It is with great pride and excitement that I can announce the purchase of Westway by ABM. This is excellent news for us all and means that as part of the ABM Group we can continue our success story. As we have grown we have found that our size has been a barrier to winning some of the larger more prestige sites and with our acquisition it opens up a world of opportunity. What is so refreshing for me is the culture within ABM mirrors that of our own and I know that having likeminded people will mean we that we really can build this new offering into something special.
December 9, 2015 ABM Press Release
ABM Continues to Accelerate 2020 Vision With the Acquisition of Westway
Acquisition Adds Technical Services Capabilities, and Uniquely Positions ABM to Deliver Complete Solutions to Clients in the United Kingdom
NEW YORK, Dec. 9, 2015 (GLOBE NEWSWIRE) — ABM (NYSE:ABM), a leading provider of facility solutions, announced today that it has signed a definitive agreement acquiring Westway Services Holdings (2014) Ltd. (“Westway”), a provider of technical engineering services to customers in the United Kingdom (U.K.), in an all cash deal.
With annual revenues of £54 million (approximately U.S. $81 million), the acquisition adds to the Company’s current strength in the U.K. and supports ABM’s transformation to a solutions-driven business. The terms of the transaction were not disclosed.
“The acquisition is a natural fit, in line with our long-term strategic vision, and continues our focus in areas where we can achieve higher margins and deliver greater value to our stakeholders,” said Scott Salmirs, president and chief executive officer, ABM. “Building upon our Aviation vertical through OmniServ and the GBM acquisition, recently rebranded as ABM U.K., Westway will allow ABM to expand into market adjacencies and deliver complete solutions, including deep technical services, to our clients in the U.K.”
Founded in 2000, Westway is a technical facility services provider and offers technical engineering services such as heating, ventilation, air conditioning, refrigeration, electrical installations, building management systems, planned preventative maintenance, and reactive maintenance services. The company is based in South Ruislip, West London and has approximately 540 employees.
“Westway has a tremendous reputation for high-quality and premium service which differentiates them in the marketplace,” said John Spencer, managing director, ABM U.K. “We are very excited about the strength that Westway will bring to ABM, and are confident that they will enhance our ability to deliver integrated facilities management capabilities.”
The combination of ABM and Westway will open up rich solution selling opportunities across the companies varied customer bases. The deal will allow ABM to immediately extend Westway’s mechanical, electrical and core service lines to its current U.K. customer base. In addition, it offers the opportunity to cross-sell ABM’s leading services to existing Westway clients.
Becoming part of ABM will also open up new opportunities for Westway employees to pursue professional development and expand their personal opportunities. The company will continue to be led by its current management team.
“Today’s announcement further enhances our growth opportunities and the ability to provide our clients with additional services and resources,” said Andy Donnell, managing director, Westway. “We believe we can substantially leverage our capabilities as a combined entity and are confident that our clients and employees will benefit greatly from the combination of our businesses.”
ABM (NYSE:ABM) is a leading provider of facility solutions with revenues of approximately $4.9 billion and over 100,000 employees in over 300 offices throughout the United States and various international locations. ABM’s comprehensive capabilities include facilities engineering, commercial cleaning, energy solutions, HVAC, electrical, landscaping, and parking, provided through stand-alone or integrated solutions. ABM provides custom facility solutions in urban, suburban and rural areas to properties of all sizes — from schools and commercial buildings to hospitals, manufacturing plants and airports. ABM Industries Incorporated, which operates through its subsidiaries, was founded in 1909. For more information, visit www.abm.com.