ABM to acquire RavenVolt for $450m.

ABM, a provider of facility solutions, agreed to acquire RavenVolt, a provider of turn-key microgrid solutions, for $450m. “RavenVolt is a natural complement to our growing energy solutions and EV business, and I am delighted to welcome the team, led by Jonathan Hinton and Eric Scanlon, to the ABM family. As our clients’ power needs continue to evolve, many have invested in microgrid technology or are considering doing so, and we believe this trend will accelerate. With numerous completed microgrid projects generating over 3 gigawatts of power across a wide range of industries, the RavenVolt team members are true leaders in the industry. Importantly, this transaction includes an earn-out, which strongly incentivizes future outperformance as the business ramps up over the next few years, which will benefit ABM and its stockholders," Scott Salmirs, ABM President & CEO.