This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

ABM Acquires TEGG Franchise Operations

ABM (NYSE:ABM), a leading provider of integrated facility solutions, today announced that Linc Network, LLC, a subsidiary of ABM Facility Solutions, has acquired the franchise operations of TEGG Corporation, an expansive network delivering comprehensive electrical service and preventive and predictive maintenance solutions to commercial and industrial facilities. TEGG’s franchise network, concentrated mainly in North America, spans 19 countries – expanding ABM’s international reach, increasing its service network and supporting the Company’s vision of becoming the global leader in integrated facility solutions.

“TEGG is a perfect fit for ABM," said Scott Giacobbe, President of ABM Building and Energy Solutions. "Our business philosophies, strategies, processes and commitment to clients are very similar. This allows us to quickly leverage TEGG’s proven service product and delivery method to broaden ABM’s existing vertical and geographic market offerings by increasing the services, geographic presence and added value we bring to our clients. The acquisition strategically positions us to expand our capabilities in electrical services and complements our existing mechanical footprint, helping us to provide our clients with more comprehensive solutions to meet and exceed their facility needs.”

Over the last twenty years, TEGG’s franchisees have protected commercial and industrial facilities from electrical system failures, electrical fires and resultant business interruptions and property damage. TEGG’s franchisees offer guaranteed services with an extensive list of features including infrared thermograpy and ultrasonic inspections, de-energized services and electrical systems analysis and reporting. Through the acquisition of the TEGG franchise network, ABM will expand its electrical services to include electrical preventive and predictive maintenance solutions.

The acquisition of TEGG’s franchise network also strengthens ABM’s new division, ABM Franchising Group, which includes Linc Network, one of the world’s largest, leading commercial HVAC contractor networks, and GreenHomes America (GHA), a national provider of home performance contracting. The acquisition also includes the franchise operations of CurrentSAFE, a TEGG subsidiary. CurrentSAFE is a national residential electrical safety franchisor that will be highly complementary to GHA. The Chief Operating Officer of Linc Network and GreenHomes America, Bert Kendall, will oversee the ABM Franchising Group, which will now add TEGG and CurrentSAFE franchise operations to its expanding portfolio of businesses.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,265.99 +109.14 0.64%
S&P 500 2,011.36 +9.79 0.49%
NASDAQ 4,593.4250 +31.2360 0.68%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs