ABM Industries

ABM

Type	Public
Traded as	NYSE: ABM
Industry	Facility services
Founded	1909
Founder(s)	Morris Rosenberg
Headquarters	Fred F. French Building, New York, NY, U.S.
Area served	United States, Canada, Puerto Rico, Central America, North Africa, Middle East, Europe
Key people	Maryellen C. Herringer (Chairman) Henrik C. Slipsager (CEO, President, & Director)
Products	Integrated Facility Services
Services	Electrical Energy Facilities Engineering HVAC & Mechanical Integrated Facility Solutions Janitorial Landscape & Grounds Parking & Transportation Security Personnel & Consulting
Revenue	US$ 4.300 billion (2012)[1]
Operating income	US$ 96.566 million (2012)[1]
Net income	US$ 62.718 million (2012)[1]
Total assets	US$ 1.869 billion (2012)[1]
Total equity	US$ 850.398 million (2012)[1]
Employees	107,000 (2012)[1]
Subsidiaries	ABM Building & Energy Solutions ABM Janitorial Services ABM Electrical ABM Electrical Power Solutions ABM Facility Services ABM Franchising Group ABM Parking Services ABM Security Services CurrentSAFE Diversco GreenHomes America Linc Government Services Linc International OneSource Landscape & Golf TEGG
Website	ABM.com

ABM Industries Incorporated is an American corporation involved in outsourcing, building maintenance and facility management.

ABM Industries Incorporated (NYSE: ABM) operates through its subsidiaries (collectively “ABM”) and is a provider of commercial cleaning and maintenance, facilities engineering, energy efficiency, parking and security services for commercial, industrial, government and retail clients across the United States and various international locations, ^{[2] [3] [4]} with fiscal 2012 revenues of approximately $4.3 billion and over 100,000 employees. ^[5]

Main services provided

ABM self-performs the following services and solutions:

• Electrical service
• Electrical testing
• Energy
• Home energy solutions
• HVAC and mechanical
• Integrated facility solutions
• Janitorial
• Landscape and grounds
• Maintenance and repair
• Parking and transportation
• Security and threat reduction services
• Clinical engineering

Energy

ABM Energy works to identify and deploy technologies and solutions that drive energy efficiency and sustainability — from state-of-the-art building improvements and electric vehicle charging stations to renewable energy sources and cogeneration systems.It has worst energy records.

HVAC and mechanical

ABM provides commercial, industrial, and institutional building owners and facility managers with mobile HVAC service and energy solutions. The Company's HVAC and mechanical group is a provider of sustainability and green solutions designed to help building owners attain LEED and Energy Star certification, lower energy usage and utility bills and reduce carbon emissions.

Janitorial

ABM provides commercial cleaning service to property management firms, facility managers, and building owners in commercial, institutional and industrial markets. The Company offers a variety of cleaning services including:^[6]

• Blind cleaning
• Clean room services
• Computer room cleaning
• Construction clean up
• Medical waste disposal
• Escalator cleaning
• Food service sanitation
• Green cleaning
• Surface floor care
• Light industrial
• Pressure washing
• Production line support
• Recycling services
• Restroom sanitation
• Special event services
• Window cleaning

Facilities Engineering

ABM provides a variety of property maintenanceWORST solutions including preventive maintenance, corrective maintenance, reliability centered maintenance and other building maintenance methods.^[6] The company delivers property maintenance solutions for a diverse range of portfolio types.

Service delivery

• On-site - designed for larger properties that require full-time, on-site staffing of maintenance engineers. In most cases, a building 100,000 square feet or larger with critical systems that need quick response, general maintenance requirements or the maintenance of the mechanical, electrical and plumbing systems. This is a common practice in buildings such as skyscrapers or data centers.
• Mobile maintenance - for smaller sites with a broad service needs such as, HVAC, electrical, plumbing, lighting, regular preventive maintenance or quality inspections. This is a common maintenance service for branch banks or utility substations.
• On-demand/call center - for sites that have emergency repair needs and periodic maintenance in more remote areas such as a bank branch or satellite office.

Reliability-centered maintenance approach

ABM pioneered a multiple parameter approach to optimizing facility maintenance and repair practices for most major electro-mechanical and plumbing systems.^[7] ABM's reliability centered maintenance approach considers the following metrics of building equipment.

• Remaining useful life
• Extendable life
• Replacement value
• Business impact from failure
• Original equipment manufacturer’s maintenance specifications
• Run to fail lifespan and cost avoidance

Security and threat reduction services

ABM offers security and threat reduction services through its ABM Security Services division. Security services are provided to a variety of markets for commercial, residential, industrial and institutional clients. ABM offers a variety of security services including:

• Uniformed, unarmed and plainclothes personnel
• Background check and investigative services
• Concierge and receptionist
• Patrol and alarm response
• Security consulting, system design, security surveys
• Special events coverage and crowd control
• Ushers and ticket takers
• Access control

History

ABM began its journey over a century ago.

The early years (1909–1944)

In 1909, Morris Rosenberg, the company's founder, invested $4.50 in cleaning tools and began cleaning San Francisco shopkeepers’ windows. Morris recovered his investment and made a profit of $3.50 on his first day.

The Company took the name American Building Maintenance in 1913 and acquired Easterday Janitorial Supply Company in 1927.

In the 1920s and 1930s, ABM grew on the West Coast offering annual cleaning contracts to businesses. In 1921, ABM became first janitorial contractor in America to clean a major college campus after contracting to clean Stanford University.

When Morris Rosenberg died in 1935, his oldest son Theodore “Ted” Rosenberg became President and his younger son Sydney joined the company in 1937. Ted purchased an electrical company in 1937 and during World War II, ABM cleaned Navy ships and wired amphibious vehicles called “Water Buffalos.” By the end of the war, ABM had grown to 17 offices in the U.S. and Canada.

The post-war years and beyond (1945–1999)

They were listed in 1945 on the American Stock Exchange.

ABM’s steady growth continued throughout the post-war years and the company went public in 1962 with Ted serving as Chairman and Sydney as CEO. Ted remained involved with ABM until his death in 2010 serving on the Board of Directors and the late Sydney Rosenberg retired as a director in December 1997.

In the late 1960s, ABM further diversified services acquiring the companies later known as Ampco System Parking, CommAir Mechanical, Amtech Elevator Services and Amtech Lighting Services. In 1972, the New York Stock Exchange listed ABM (NYSE:ABM) with sales surpassing $100 million by the end of that decade. ABM Engineering was established in the early 1990s and received ISO 9002 certification in 1999. By the end of 1999, ABM employed over 55,000 people and enjoyed annual sales revenue over $1.6 billion.

Into the 21st century (2000–2009)

Under the leadership of Henrik Slipsager as President and Chief Executive Officer beginning in 2000, divestitures were made including selling Amtech Elevator in 2003 and CommAir Mechanical in 2005. Conversely, ABM acquired several companies: Lakeside Building Maintenance in 2002; Security Services of America in 2004; and four janitorial companies—Colin Service Systems in the Northeast; Initial Cleaning Services’ janitorial operations in Maryland; HGO in Philadelphia; and Brandywine Building Services in the Delaware, southeast Pennsylvania and south New Jersey area.

On September 11, 2001, ABM lost 17 employees who were working at the World Trade Center though hundreds more also had jobs there. ^[8]

In 2007, ABM acquired the assets of HealthCare Parking Systems of America, Inc. (HPSA), a provider of healthcare-related parking services based in Tampa, Florida with annual revenues in excess of $26 million. ^[9]

Also in 2007, ABM completed the acquisition (for $365 million in cash) of OneSource Services Inc. (London AIM: OSS), ^[10] a provider of outsourced facility 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 U.S.

A new era (2010–present)

In 2010, the company and its CEO, Henrik Slipsager, were featured in the second season of the CBS reality show Undercover Boss^[11][12] and acquired The Linc Group, LLC ("TLG") for $300 million in cash.^{[13] [14] [15]}

ABM made the following acquisitions in 2010:

The Linc Group, LLC ("TLG") for $300 million in cash. ^[16] The Irvine, California-based TLG's 2009 revenues totaled $579.2 million.

Select parking assets from the L&R Group of Companies and also substantially all of the assets of three parking companies - Five Star Parking, Network Parking Company Ltd., and System Parking, Inc.

All of the outstanding shares of Diversco, Inc., from DHI HOLDINGS, Inc. ^[17]

On May 7, 2012 ABM purchased TEGG Franchise Operations including CurrentSAFE ^[18]

On February 17, 2012 the company merged and consolidated previous acquisitions culminating in the launch of a new brand – “ABM. Building Value.”

In November 2012, ABM acquired Atlanta-based AirServ Corp. for $158 million in cash ^[19] and HHA Services] ^[20]

Restatement

On December 20, 2004, the company restated results for the four fiscal years through October 2003 to correct an error in the way it accounted for insurance reserves.^[21]

References

External links

• ABM Industries Incorporated website
• ABM Industries SEC Filings
• ABM hires NY subway hero
• ABM stock information
• ABM financials
• ABM profile