|The transaction was valued at a pre-tax level of $131 million|
Universal Protection Service, a division of Universal Services of America and a portfolio company of Warburg Pincus and Partners Group, announced recently that it has acquired the ABM Security Business, a division of ABM. The acquisition further expands the largest and fastest growing American-owned security company. The transaction was valued at a pre-tax level of $131 million.
Part of Long-Term Strategic Plan
Based in Houston, Texas, ABM Security is one of the top 10 largest security service providers in the U.S., with offices across the country, and is Safety Act Certified by the Department of Homeland Security.
Steve Jones, CEO of Universal Services of America, said, “I have admired ABM since I entered this industry almost 18 years ago. Scott Salmirs and the ABM team have built an excellent business, and I am excited that we will be partnering together. This acquisition is part of our long-term strategic plan to continue to add great people and an unmatched depth of resources into local markets around the country so that we can deliver an even higher level of services to our clients. Together, we will bring great opportunities to the ABM Security Business employees, and we will deliver new service offerings to their clients."
Scott Salmirs, CEO of ABM stated: "The combination of the ABM Security Business and Universal Protection Service will provide significant benefits for our clients, including access to Universal’s unique technology and high density of dedicated field resources.”
Wells Fargo Securities acted as financial advisor to ABM. Cleary Gottlieb Steen & Hamilton LLP acted as legal counsel to Universal Protection Service. Jones Day acted as legal counsel to ABM.