ABM Launches Business Ventures Program
ABM Ventures Launches to Drive Innovation
NEW YORK, May 31, 2022 - ABM has introduced ABM Ventures, a new initiative aimed at investing in sustainable technologies within the facility services sector. This program aligns with ABM's ELEVATE strategy for growth and innovation. ABM Ventures has made its first investment in Recycle Track Systems (RTS), enhancing client access to advanced waste management solutions. With annual revenue over $6 billion and more than 100,000 employees, ABM aims to strengthen its market leadership while promoting sustainability through innovative partnerships.
- Launch of ABM Ventures to enhance investment in sustainable technologies.
- First investment in Recycle Track Systems improves client access to waste management solutions.
- ABM's ELEVATE strategy aims to unlock long-term value and strengthen market position.
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Program’s Initial Investment in Recycle Track Systems Reflects ABM’s Commitment to Sustainable Innovation
NEW YORK, May 31, 2022 (GLOBE NEWSWIRE) -- Today, ABM (NYSE: ABM) announced the establishment of ABM Ventures, the Company’s business venture program, and an important extension of its ELEVATE strategy to accelerate growth through investments in both client and team member experiences and industry leading use of technology and data.
ABM Ventures will explore new strategic growth opportunities and quicken the innovation cycle through investments primarily in growth-stage companies that are solving for the facility services industry’s biggest challenges, including sustainability, virtual and digital workplace services and e-mobility.
Scott Salmirs, ABM’s President & CEO, said, “As one of the world’s largest providers of facility services, ABM has the scale and scope to identify opportunities to deliver solutions for our clients today and in the years ahead. This new program will enable us to nurture and invest in exciting new technologies and ideas that have the potential to create positive, disruptive change for the industry, and in turn help our clients navigate and win in increasingly dynamic markets. ABM Ventures directly aligns with our ELEVATE plan for growth and expansion – a strategy devoted toward unlocking significant long-term value for all stakeholders and strengthening our industry leadership position.”
The new ABM Ventures program is established as a new operating unit of the Company’s Strategy, Technology and Transformation organization, led by Chief Strategy Officer Josh Feinberg.
“Providing our over 20,000 clients with cutting-edge offerings that drive a significantly more efficient, data-driven and tech-enabled experience is central to our ELEVATE strategy,” added Feinberg. “ABM Ventures provides a new platform for us to curate and bring innovative solutions to scale and deliver directly to our clients. When combined with our ABMNext innovation program, our internal development of client-facing technology, and our focused M&A strategy, ABM is positioned unlike any other in the industry to adopt the most forward-looking solutions for property owners and facility managers.”
RTS Partnership
ABM Ventures recently completed its first transaction by making a minority investment in Recycle Track Systems, Inc. (“RTS”), a leader in cutting edge traceability and sustainability solutions utilized in the materials, waste, and recycling industry. Through this partnership, ABM clients will have access to RTS’s on-demand waste removal and materials management solutions, including waste and recycling habit analytics, waste pickup optimization and tracking, and development of zero waste and circular economy programs.
Feinberg said: “Helping our clients manage and improve sustainability is core to our mission, and we are focused on providing them with emerging solutions to best reach their sustainability goals. Through our partnership with RTS, ABM clients gain access to innovative, tech-enabled tools that provide real-time transparency into their operations’ waste habits, actionable insights into their climate impact, and expertise to improve their practices overall.”
To learn more about ABM Ventures, please visit www.abm.com/abm-ventures.
About ABM
ABM is one of the world’s largest providers of integrated facility services. A driving force for a cleaner, healthier, and more sustainable world, ABM provides essential services that improve the spaces and places that matter most. From curbside to rooftop, ABM offers a comprehensive array of facility services that includes janitorial, engineering, parking, electrical & lighting, energy solutions, HVAC & mechanical, landscape & turf, and mission critical solutions. ABM delivers these custom facility solutions to properties across a wide range of industries – from commercial office buildings to schools, airports, hospitals, data centers, manufacturing plants and distribution centers, entertainment venues and more. Founded in 1909, ABM today has annual revenue exceeding
About Recycle Track Systems, Inc.
Recycle Track Systems, Inc. (RTS) is pioneering a better way to manage waste and recycling. RTS combines technology with high-touch service to make waste disposal easier, smarter, and more responsible. From on-demand removal to fully integrated waste management solutions, RTS helps companies and municipalities easily track and optimize their pickups. Using data insight, RTS empowers clients with visibility into their waste habits and tangible figures on their climate impact to improve their waste and recycling practices. RTS now serves more than 15,000 commercial customers and 60,000 homes across all 50 States, Canada, and Puerto Rico through a cloud-based software platform, and has coordinated 5,750,000 tons of material verified recycled. RTS is a certified B-Corporation, reflecting its dedication and commitment to meeting stringent standards of environmental transparency and performance. For more information, visit rts.com.
Cautionary Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements regarding ABM Industries Incorporated (together with its subsidiaries, collectively referred to as “ABM” “we,” “us” or “our”). In this context, we make forward-looking statements related to future expectations, estimates and projections that are uncertain, and often contain words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “may,” “outlook,” “plan,” “predict,” “should,” “target” or other similar words or phrases. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. Investments in and changes to our businesses, operating structure, financial reporting structure, or personnel relating to our ELEVATE strategy, including the implementation of strategic transformations, enhanced business processes, and technology initiatives may not have the desired effects on our financial condition and results of operations. For information on risks and uncertainties we face, see ABM’s risk factors, as they may be amended from time to time, set forth in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent filings. We urge readers to consider these risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Media Contact:
Michael Valentino
ABM External Communications & Media Relations
media@abm.com
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