ABM acquires RavenVolt for up to $450M; microgrid solutions expand Technical Solutions

ABM INDUSTRIES INC /DE/

Initial purchase price $170M cash at close; earn-out up to $280M based on 2023-2025 EBITDA targets.
RavenVolt 2022 projected revenue $70-80M and EBITDA $17-19M.
Acquisition complements ABM's eMobility, power, and bundled energy services under ELEVATE strategy.
Closing expected in Q4 fiscal 2022, subject to HSR waiting period.

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