ABM Acquires RavenVolt to Expand Microgrid and Energy Solutions

ABM has entered into a definitive agreement to acquire RavenVolt, Inc., a Georgia-based provider of turn-key microgrid systems, for $170 million in cash at closing plus up to $280 million in post-closing earn-outs (maximum total purchase price of $450 million). The acquisition expands ABM's Technical Solutions and eMobility capabilities, adds microgrid design, installation and branded generator/switchgear product offerings, and is expected to close in ABM's fourth fiscal quarter of 2022 subject to HSR clearance.