ABM Announces Facility Services Partnership with the Arizona Diamondbacks and Chase Field
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Insights
The recent agreement between ABM and the Arizona Diamondbacks represents a strategic business move for ABM, solidifying its position within the MLB's service provider market. Expanding its portfolio to more than 20% of the League's member clubs demonstrates ABM's growing influence and potential for increased market share. This partnership could potentially lead to similar agreements with other sports franchises, further diversifying ABM's client base and strengthening its revenue streams. The emphasis on inclusion and environmental sustainability aligns with current consumer and investor interests, which could enhance ABM's brand reputation and appeal to ESG-focused investors.
ABM's multi-year contract with the Arizona Diamondbacks is likely to provide a stable and predictable source of revenue over the term of the agreement. The deal could also lead to improved financial metrics such as increased cash flow and margins due to economies of scale and operational efficiencies in servicing multiple MLB clients. It's crucial to monitor how this agreement will impact ABM's financials in the upcoming quarters, particularly in terms of revenue growth and cost management. Investors should look for signs of whether these deals are accretive to earnings and if they contribute to a positive outlook for the company's stock performance.
The commitment to green cleaning processes and waste management best practices is an important aspect of the agreement, reflecting a broader industry trend towards sustainable operations. ABM's implementation of these practices at Chase Field could serve as a case study for the effectiveness of sustainability initiatives in large venues. The success of these initiatives could encourage other companies to adopt similar practices, potentially leading to industry-wide improvements in environmental performance. Additionally, ABM's focus on sustainability may improve its compliance with regulatory standards and mitigate risks associated with environmental liabilities.
PHOENIX, March 04, 2024 (GLOBE NEWSWIRE) -- ABM (NYSE: ABM), a leading provider of facility services, infrastructure solutions, and parking management, has entered into a multi-year agreement to deliver first-class housekeeping solutions and event staffing for Major League Baseball’s (“MLB”) defending National League Champion Arizona Diamondbacks and Chase Field.
Through this partnership, ABM will serve as a single source for deploying a professional workforce dedicated to delivering outstanding janitorial services which enhance the fan experience across the over 1.3 million square feet at the downtown ballpark.
This agreement with the Diamondbacks expands ABM’s portfolio of MLB clients to the more than
Aligned with both ABM and the Diamondbacks’ focus on inclusion, ABM works to bring in additional partners, including minority, women, and disadvantaged enterprises (MBE/DBE/WBE), such as Veteran Building Maintenance & Supply, who will provide equipment and supplies for Chase Field. ABM will also work to advance the environmental sustainability goals by utilizing green cleaning processes as well as water and waste management best practices across the venue.
“Home to the National League champs and host to spectacular concerts and special events, we are thrilled to join the team at Chase Field,” said Art Rodriguez, vice president of operations, sports and entertainment at ABM. “As a national leader in providing solutions for stadiums and arenas, ABM is focused on keeping Chase Field clean and healthy, and delivering a world-class fan experience.”
“We are excited to welcome ABM to the D-backs,” said Mike Rock, vice president, ballpark operations. “ABM brings a tremendous level of expertise to Chase Field and shares our commitment in providing an outstanding gameday experience for our fans.”
For more information about ABM’s offerings for sports and entertainment facilities, visit https://www.abm.com/industries/business-and-industry/sports-entertainment/.
ABOUT ABM
ABM (NYSE: ABM) is one of the world’s largest providers of facility services and solutions. A driving force for a cleaner, healthier, and more sustainable world, ABM provides essential services and forward-looking performance solutions that improve the spaces and places that matter most. From curbside to rooftop, ABM’s comprehensive services include janitorial, engineering, parking, electrical and lighting, energy and electric vehicle charging infrastructure, HVAC and mechanical, landscape and turf, and mission critical solutions. ABM serves a wide range of industries – from commercial office buildings to universities, airports, hospitals, data centers, manufacturing plants and distribution centers, entertainment venues and more. Founded in 1909, ABM serves over 20,000 clients, with annualized revenue approaching
CONTACT
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Michael Valentino
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