secwatch.observer — SEC 8-K summary
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Issuer:     ABM INDUSTRIES INC /DE/ (ABM)
CIK:        0000771497
Form:       8-K
Filed at:   2021-08-25T23:59:59+00:00
Accession:  0001104659-21-109342
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ABM acquires Able Services for $830M; adds $1.1B revenue, $65M EBITDA, $30-40M cost synergies
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- Purchase price $830M cash; expected to close by end of September 2021, subject to HSR approval.
- Able generates $1.1B revenue and $65M adjusted EBITDA; engineering services ~60% of revenue, janitorial ~40%.
- ABM expects $30-40M in cost synergies, majority realized in first year post-close.
- Transaction expected to be accretive to adjusted EPS immediately after closing.
- Able's 80% unionized workforce serves over 1 billion sq ft; adds to ABM's national presence.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/771497/000110465921109342/0001104659-21-109342-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/771497/000110465921109342/tm2125912d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-109342

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