ABM Acquires TEGG Franchise Operations
Published on Wednesday, 02 May 2012 11:08 Written by TradersHuddle StaffNEW YORK-( Business Wire )-
ABM (NYSE:ABM), a leading provider of integrated facility solutions, today announced that Linc Network, LLC, a subsidiary of ABM Facility Solutions, has acquired the franchise operations of TEGG Corporation, an expansive network delivering comprehensive electrical service and preventive and predictive maintenance solutions to commercial and industrial facilities. TEGG’s franchise network, concentrated mainly in North America, spans 19 countries – expanding ABM’s international reach, increasing its service network and supporting the Company’s vision of becoming the global leader in integrated facility solutions.
“TEGG is a perfect fit for ABM," said Scott Giacobbe, President of ABM Building and Energy Solutions. "Our business philosophies, strategies, processes and commitment to clients are very similar. This allows us to quickly leverage TEGG’s proven service product and delivery method to broaden ABM’s existing vertical and geographic market offerings by increasing the services, geographic presence and added value we bring to our clients. The acquisition strategically positions us to expand our capabilities in electrical services and complements our existing mechanical footprint, helping us to provide our clients with more comprehensive solutions to meet and exceed their facility needs.”
Over the last twenty years, TEGG’s franchisees have protected commercial and industrial facilities from electrical system failures, electrical fires and resultant business interruptions and property damage. TEGG’s franchisees offer guaranteed services with an extensive list of features including infrared thermograpy and ultrasonic inspections, de-energized services and electrical systems analysis and reporting. Through the acquisition of the TEGG franchise network, ABM will expand its electrical services to include electrical preventive and predictive maintenance solutions.
The acquisition of TEGG’s franchise network also strengthens ABM’s new division, ABM Franchising Group, which includes Linc Network, one of the world’s largest, leading commercial HVAC contractor networks, and GreenHomes America (GHA), a national provider of home performance contracting. The acquisition also includes the franchise operations of CurrentSAFE, a TEGG subsidiary. CurrentSAFE is a national residential electrical safety franchisor that will be highly complementary to GHA. The Chief Operating Officer of Linc Network and GreenHomes America, Bert Kendall, will oversee the ABM Franchising Group, which will now add TEGG and CurrentSAFE franchise operations to its expanding portfolio of businesses.
"Our commitment to providing comfort, energy savings and safety to building owners worldwide makes this acquisition a natural fit," said Bert Kendall. "We look forward to the expanded opportunities that will come from adding TEGG and CurrentSAFE to our growing family of brands and services."
ABM (NYSE:ABM) is a leading provider of integrated facility solutions. Thousands of commercial, industrial, government and retail clients outsource their non-core functions to ABM for consistent quality service that meets their specialized facility needs. ABM’s comprehensive capabilities include expansive facility services, energy solutions, commercial cleaning, maintenance and repair, HVAC, electrical, landscaping, parking and security, provided through stand-alone or integrated solutions. With more than $4 billion in revenues and 100,000 employees deployed throughout the United States and various international locations, ABM delivers custom facility solutions to meet the unique client requirements of multiple industries –- ranging from healthcare, government and education to high-tech, aviation and manufacturing. ABM leverages its breadth of services, deep industry expertise and technology-enabled workforce to preserve and build value for clients’ physical assets. ABM Industries Incorporated, which operates through its subsidiaries, was founded in 1909. For more information, visit www.abm.com.
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