Today, ABM (NYSE:ABM) announced the establishment of ABM Ventures, the Company’s business venture program, and an important extension of its ELEVATE strategy to accelerate growth through investments in both client and team member experiences and industry leading use of technology and data.
ABM Ventures will explore new strategic growth opportunities and quicken the innovation cycle through investments primarily in growth-stage companies that are solving for the facility services industry’s biggest challenges, including sustainability, virtual and digital workplace services and e-mobility.
Scott Salmirs, ABM’s President & CEO, said, “As one of the world’s largest providers of facility services, ABM has the scale and scope to identify opportunities to deliver solutions for our clients today and in the years ahead. This new program will enable us to nurture and invest in exciting new technologies and ideas that have the potential to create positive, disruptive change for the industry, and in turn help our clients navigate and win in increasingly dynamic markets. ABM Ventures directly aligns with our ELEVATE plan for growth and expansion – a strategy devoted toward unlocking significant long-term value for all stakeholders and strengthening our industry leadership position.”
The new ABM Ventures program is established as a new operating unit of the Company’s Strategy, Technology and Transformation organization, led by Chief Strategy Officer Josh Feinberg.
“Providing our over 20,000 clients with cutting-edge offerings that drive a significantly more efficient, data-driven and tech-enabled experience is central to our ELEVATE strategy,” added Feinberg. “ABM Ventures provides a new platform for us to curate and bring innovative solutions to scale and deliver directly to our clients. When combined with our ABMNext innovation program, our internal development of client-facing technology, and our focused M&A strategy, ABM is positioned unlike any other in the industry to adopt the most forward-looking solutions for property owners and facility managers.”
