secwatch.observer — SEC 8-K summary
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Issuer:     ABM INDUSTRIES INC /DE/ (ABM)
CIK:        0000771497
Form:       8-K/A
Filed at:   2021-11-22T23:59:59+00:00
Accession:  0000771497-21-000030
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.50
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ABM files financials for $830M Able acquisition; acquired firm's 2020 revenue $1.09B, net income $48M
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- ABM acquired Able Services for $830M cash, closed Sept 30, 2021.
- Acquired co.'s 2020 sales $1.09B, net income $48.0M; 2019 sales $1.13B, net income $31.0M.
- Total assets $302M at Dec 31, 2020; cash $128M, workers' comp liability $75.2M.
- Loan from shareholder $10.7M at 10% interest, matures March 2022.
- Financials restated for change in goodwill accounting principle; COVID-19 pandemic noted as uncertainty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/771497/000077149721000030/0000771497-21-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/771497/000077149721000030/abm-20210930.htm
  HTML page:      https://secwatch.observer/filing/0000771497-21-000030

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer