ABM Industries

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ABM
TypePublic
Traded asNYSEABM
IndustryFacility services
Founded1909
Founder(s)Morris Rosenberg
HeadquartersFred F. French Building,
New York, NY
, U.S.
Area servedUnited States, Canada, Puerto Rico, Central America, North Africa, Middle East, Europe
Key peopleMaryellen C. Herringer (Chairman)
Henrik C. Slipsager (CEO, President, & Director)
ProductsIntegrated facility services
Services

Electrical
Energy
Facilities Engineering
HVAC and Mechanical
Integrated Facility Solutions

Janitorial
Landscape and Grounds
Parking and Transportation
Security Personnel and Consulting
RevenueIncrease US$ 4.300 billion (2012)[1]
Operating incomeDecrease US$ 96.566 million (2012)[1]
Net incomeDecrease US$ 62.718 million (2012)[1]
Total assetsDecrease US$ 1.869 billion (2012)[1]
Total equityIncrease US$ 850.398 million (2012)[1]
Employees107,000 (2012)[1]
SubsidiariesABM 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
WebsiteABM.com
 
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ABM
TypePublic
Traded asNYSEABM
IndustryFacility services
Founded1909
Founder(s)Morris Rosenberg
HeadquartersFred F. French Building,
New York, NY
, U.S.
Area servedUnited States, Canada, Puerto Rico, Central America, North Africa, Middle East, Europe
Key peopleMaryellen C. Herringer (Chairman)
Henrik C. Slipsager (CEO, President, & Director)
ProductsIntegrated facility services
Services

Electrical
Energy
Facilities Engineering
HVAC and Mechanical
Integrated Facility Solutions

Janitorial
Landscape and Grounds
Parking and Transportation
Security Personnel and Consulting
RevenueIncrease US$ 4.300 billion (2012)[1]
Operating incomeDecrease US$ 96.566 million (2012)[1]
Net incomeDecrease US$ 62.718 million (2012)[1]
Total assetsDecrease US$ 1.869 billion (2012)[1]
Total equityIncrease US$ 850.398 million (2012)[1]
Employees107,000 (2012)[1]
SubsidiariesABM 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
WebsiteABM.com

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

ABM Industries Incorporated (NYSEABM) 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 international locations, [2] [3] [4] with fiscal 2012 revenues of approximately $4.3 billion and over 100,000 employees. [5]

Main services provided[edit]

ABM performs the following services and solutions:

Energy[edit]

ABM Energy works to identify and deploy technologies and solutions that drive energy efficiency and sustainability — from building improvements and electric vehicle charging stations to renewable energy sources and cogeneration systems.

HVAC and mechanical[edit]

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[edit]

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

Facilities Engineering[edit]

ABM provides a variety of property maintenance 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[edit]

Reliability-centered maintenance approach[edit]

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.

Security and threat reduction services[edit]

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

History[edit]

1909–1944[edit]

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)[edit]

They were listed in 1945 on the American Stock Exchange.

ABM’s 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 acquired 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)[edit]

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. ABM acquired 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)[edit]

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[edit]

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[edit]

  1. ^ a b c d e f "ABM Industries Dec 2012 Annual Report, Form 10-K, Filing Date Dec 20, 2012". secdatabase.com. Retrieved Dec 27, 2012. 
  2. ^ http://topics.nytimes.com/topics/news/business/companies/abm-industries-inc/index.html
  3. ^ http://www.agileoak.com/fm2i/serviceproviders.php
  4. ^ http://onlinefmguide.com/company.php?id=103816&company=ABM+Industries
  5. ^ "Form 10-K, Filing Date Dec 20, 2012". secdatabase.com. Retrieved Dec 27, 2012.
  6. ^ a b http://onlinefmguide.com/company.php?id=103816&company=ABM+Industries
  7. ^ http://www.abm.com/Services/Integrated-Facility-Services/Pages/How-we-drive-reliability.aspx
  8. ^ Lisa Johnson Mandell (December 3, 2010). "ABM Industries' Undercover Boss, Henrik Slipsager, Revisits 9/11". AOL Jobs. Retrieved December 5, 2010.
  9. ^ http://www.insideview.com/directory/healthcare-parking-systems-of-america-inc
  10. ^ http://www.cbs.com/shows/undercover_boss/bios/67709
  11. ^ "Boss goes 'Undercover' as Chicago window washer". Chicago Sun-Times. December 3, 2010. Retrieved December 5, 2010. 
  12. ^ Lisa Johnson Mandell (December 3, 2010). "ABM Industries' Undercover Boss, Henrik Slipsager, Revisits 9/11". AOL Jobs. Retrieved December 5, 2010. 
  13. ^ "ABM Industries Dec 2010 Current Report, Form 8-K, Filing Date Dec 2, 2010". secdatabase.com. Retrieved Dec 28, 2012. 
  14. ^ http://www.cbs.com/shows/undercover_boss/bios/67709
  15. ^ http://www.cbs.com/shows/undercover_boss/photos/67429/undercover-boss/230
  16. ^ http://www.zacks.com/stock/news/44112/abm-industries-buys-linc-group]
  17. ^ http://www.zacks.com/stock/news/36385/ABM+Industries+Acquires+Diversco
  18. ^ http://finance.yahoo.com/news/abm-buys-tegg-franchise-operations-191526474.html
  19. ^ http://www.bizjournals.com/atlanta/news/2012/10/16/abm-buys-air-serv.html
  20. ^ http://www.marketwatch.com/story/abm-acquires-hha-services-2012-11-01
  21. ^ "ABM to restate results back to 2000 to fix error.". 

External links[edit]