Plus   Neg

ABM Buys HHA Services

ABM Industries Inc. (ABM) said Thursday that it has acquired HHA Services, a provider of food and facility management services to hospitals, healthcare systems, long-term care facilities and retirement communities.

Terms of the deal were not disclosed.

HHA, which generates annual revenues of about $50 million, has grown to become a leader in healthcare facility management services through its three distinct lines of service.

HHA's management team, led by President Dan Bowen, will remain intact as the company integrates into ABM's Healthcare services.

HHA, when combined with ABM's existing healthcare services, which include Healthcare Parking Systems of America, environmental services, clinical engineering, energy solutions, facility services and security, will create the most comprehensive set of solutions available from a single provider in the healthcare services market. The move will not only increase ABM's service offerings but also expand its geographic footprint.

ABM expects the deal to be slightly accretive in fiscal 2013.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
In a move likely to further inflame global trade tensions, President Donald Trump has threatened to impose a 20 percent tariff on all cars imported to the U.S. from the European Union. Trump claimed he would impose the new tariffs unless the EU removes tariffs and trade barriers placed on the U.S. The Federal Reserve has determined that the largest U.S. banks are strongly capitalized and would be able to lend to banks as well as households during a severe global economic recession. This is the fourth straight year that all banks have met the Federal Reserve's standards. The first round of results of the supervisory stress tests were released by the central bank on Thursday. The "safety" driver behind the wheel of a self-driving Uber was streaming a television show on her smartphone up until about the time of a fatal crash in March, according to a report from the Tempe Police Department. Uber's self-driving Volvo SUV, which was traveling at under 44 miles per hour, had struck and killed a pedestrian in Arizona on March 18.
Follow RTT