Integrated FM provider ABM announced today (7 April) that it has completed the acquisition of Dublin-based Momentum Support.
Momentum is an independent provider of facility services, primarily janitorial, across the Republic of Ireland and Northern Ireland. The purchase was made in an all-cash transaction. The firm generated annual revenue of about $70 million in 2021 and has a workforce of 2,300.
The US-owned parent company of ABM UK claimed the acquisition “reflects ABM’s ELEVATE strategy by broadening its exposure to fast-growing markets”.
It said that the addition of Momentum gives ABM access to Momentum’s blue-chip customer base and provides the opportunity to cross-sell ABM services to existing ABM clients who also have a presence in the Republic of Ireland and Northern Ireland. Furthermore, ABM will increase its ability to serve clients in “faster-growing markets such as technology and life sciences, many of which maintain a significant presence in Ireland”.
Scott Salmirs, ABM’s president & CEO, said, “Momentum is recognised as a customer-centric, award-winning provider of janitorial and associated services, as evidenced by their strong long-standing client relationships.
“Many of our clients have substantial operations in the Republic of Ireland and Northern Ireland, making this transaction a great example of our ability and desire to grow with our core customers in attractive markets. With Momentum, we gain even greater capacity to deliver market-leading services and efficiencies in more locations to our existing client base.
Momentum’s management team will join ABM.
Ian Anderson, who served as the company's chief executive, and will continue to lead the business within ABM as managing director for the region, said: “ABM is such a strong fit for us because our companies share the same values. Like ABM, we are laser-focused on complete client satisfaction, accountability, and providing a respectful and rewarding experience for our team members.”
In the transaction, ABM gained the equity interests of three legal entities which together comprised Momentum Support. The terms of the transaction remain undisclosed.