ABM Industries Inc. said Wednesday a subsidiary has acquired all of the outstanding shares of janitorial services company Diversco Inc. from DHI Holdings Inc.
Financial details of the cash transaction were not disclosed.
ABM provides janitorial, parking and other services for buildings. The acquisition gives ABM a wider geographic reach, particularly in the Southeast, Midwest and Mid-Atlantic, where Diversco has a strong manufacturing and industrial client base.
Diversco employs 3,000 people and generated $79.3 million in revenue in its fiscal year that ended in March.
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Its operations will be integrated at ABM under Jim McClure, executive vice president of ABM Industries and president of ABM Janitorial Services.
ABM projects the Diversco operation will be integrated by the end of the year.
Shares in ABM fell 28 cents to $20.95 on Wednesday.