United States : GCA Services Group to sell for $1.25 billion.
A major leading provider of facility solutions, ABM, has announced a definitive deal to take over GCA Services Group (GCA) from associates of Thomas H. Lee Partners, L.P. and Goldman Sachs Merchant Banking Division for nearly $1.25 billion in cash and stock.
A major provider of facility services in the education and commercial industries, GCA, specializes in facilities maintenance, janitorial services, grounds management, vehicle services and outsourced workforce solutions. With more than 37,000 workers in 46 states, the District of Columbia, and Puerto Rico, GCA is based in Cleveland, OH.
Scott Salmirs, President and Chief Executive Officer of ABM Industries, said, This transformative and accretive acquisition will accelerate our 2020 Vision by creating a broader platform upon which we can grow profitably and further distinguish ABM as an industry-focused solutions provider. We look forward to gaining insights from GCA, a well-established industry leader with top talent. GCAs client-centric goals and philosophies align closely with those of ABM, and we are excited about the value this combination will bring to our clients, our employees and our shareholders.
Bob Norton, Chairman, President and Chief Executive Officer of GCA, added, We are excited to be joining the ABM family, which will allow us to better serve our clients with more services and greater reach. We believe our combination with a company that shares our vision for profitable growth will lead to significant long-term value for all stakeholders.
[c] 2017 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Date:||Jul 13, 2017|
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