ABM Industries Inc.(ABM), a provider of integrated facility, infrastructure, and technical solutions, on Wednesday announced a deal to acquire WGNSTAR, a provider of managed workforce solutions and equipment support services, for around $275 million in cash.
The transaction, to be closed in the ABM's second quarter of 2026, will be funded through a combination of cash on hand and debt.
Scott Salmirs, CEO of ABM, said: "WGNSTAR's expertise in semiconductor operations and equipment services will align seamlessly with ABM's strengths in engineering, energy resiliency, and mission-critical solutions. As demand escalates for domestic semiconductor production, we anticipate this transaction will uniquely position ABM to meet our clients' evolving needs."
This transaction is expected to be modestly dilutive to adjusted earnings per share in fiscal 2026, due to amortization of acquired intangibles and related interest expense. However, the acquisition is anticipated to be $0.05 to $0.07 accretive in fiscal 2027 and accelerate thereafter.
WGNSTAR is projected to generate annual revenue of around $135 million for the calendar year 2025.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.