ABM Industries Incorporated Acquires Operations of HGO, Inc
PHILADELPHIA–(BUSINESS WIRE)–Oct. 20, 2003
ABM Industries (NYSE:ABM) has acquired the operations of HGO, Inc., a provider of janitorial services based in King of Prussia, Pennsylvania. Assets acquired by ABM include contracts in the greater Philadelphia metropolitan area, including sites in New Jersey and Delaware. Annual revenues from the acquisition are approximately $40 million and an additional 1,500 employees will be joining ABM Industries.
HGO Principals Thomas A. Musi will remain on as Vice President overseeing all operations and Joseph E. Troncelliti as Vice President of Sales. Lou Oswald Sr. will remain with the company as a consultant during the period of transition and is planning on retiring.
“This is a truly fortuitous combination of resources — a win-win for both entities that is going to open up new opportunities for everyone involved. I couldn’t be more pleased,” said Lou Oswald.
“We are very excited about the transaction and look forward to growing together in the future,” said Tom Musi.
Jan P. Kaupas, executive vice president for ABM, stated, “The HGO organization has been a much respected competitor in the market place. Their management team, culture and dedication to service will bring many benefits to our combined operations, as well as to our present and future customers. We believe that our new team will be unparalleled in the markets served.”
ABM Janitorial Services operates more than 200 branch offices nationwide, serving 38 states and 36 of the 40 largest major metropolitan areas across the country.
ABM Industries Incorporated is one of the largest facility services contractors listed on the New York Stock Exchange. With fiscal 2002 revenues in excess of $2.0 billion and more than 63,000 employees, ABM provides janitorial, parking, engineering, security, lighting, mechanical and network services for thousands of commercial, industrial, institutional and retail facilities in hundreds of cities across North America. In addition to ABM Janitorial, the ABM Family of Services includes Ampco System Parking, ABM Engineering, American Commercial Security (ACSS), Amtech Lighting, Commair Mechanical and ABM Service Network.
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