January 14, 2008—ABM Industries, a leading facility services contractor in the United States, has acquired the remaining 50% equity stake in Southern Management Company, a facility services company based in Chattanooga, Tennessee, for approximately $24 million in cash. ABM acquired a 50% stake in Southern Management through the acquisition of OneSource Services Inc. in November 2007.
With annual revenues in excess of $68 million, Southern Management is a provider of cleaning and value added building maintenance and support services to commercial institutional, industrial, facilities and schools throughout the Southern United States.
For more information visit ABM Web site.
