ABM (ABM) Buys HHA Services for Undisclosed Sum
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Price: $46.81 -0.62%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
Revenue Growth %: +4.5%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
Revenue Growth %: +4.5%
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ABM (NYSE: ABM), a leading provider of integrated facility solutions, announced today that it has acquired HHA Services, a provider of food and facility management services to hospitals, healthcare systems, long-term care facilities and retirement communities. The transaction closed today. The terms of the transaction were not disclosed.
HHA, when combined with ABM’s existing healthcare services, which include Healthcare Parking Systems of America, environmental services, clinical engineering, energy solutions, facility services and security, will create the most comprehensive set of solutions available from a single provider in the healthcare services market. The move will not only increase ABM’s service offerings but also expand ABM’s geographic footprint.
HHA’s management team, led by President Dan Bowen, will remain intact as the company integrates into ABM’s Healthcare services. HHA is headquartered out of St. Clair Shores, MI.
ABM expects the transaction to be slightly accretive in fiscal 2013.
HHA, when combined with ABM’s existing healthcare services, which include Healthcare Parking Systems of America, environmental services, clinical engineering, energy solutions, facility services and security, will create the most comprehensive set of solutions available from a single provider in the healthcare services market. The move will not only increase ABM’s service offerings but also expand ABM’s geographic footprint.
HHA’s management team, led by President Dan Bowen, will remain intact as the company integrates into ABM’s Healthcare services. HHA is headquartered out of St. Clair Shores, MI.
ABM expects the transaction to be slightly accretive in fiscal 2013.
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