Momentum Support, a facilities company established by the Maybin family in 1982, has been acquired by NYSE-listed ABM Industries.
In the transaction, ABM has acquired the equity interests of three legal entities which together comprised Momentum Support. Terms of the transaction were not disclosed.
Momentum provides janitorial and other services and has a workforce of over 2,000 people.
Turnover in 2020 at Maybin Support Services Ireland Ltd, one of the Momentum operating companies, was €47m. Turnover at holding company Blueglade Ltd was €63m in 2021.
Blueglade's shareholders are Nicholas Maybin, Andrew Maybin and Rebecca Maybin.
In Association with
Momentum was established by Colin Maybin (66).
In a statement, ABM said the deal gives ABM access to Momentum’s blue-chip customer base and provides the opportunity to cross sell ABM services to existing ABM clients who also have a footprint in the Republic of Ireland and Northern Ireland.
ABM also mentioned its desire to serve clients in faster growing markets like technology and life sciences, many of whom maintain a significant presence in Ireland.
Scott Salmirs, ABM’s CEO, said: “Momentum is recognised as a customer-centric, award-winning provider of janitorial and associated services, as evidenced by their strong, long-standing client relationships.
“Many of our clients have substantial operations in the Republic of Ireland and Northern Ireland, making this transaction a great example of our ability and desire to grow with our core customers in attractive markets. With Momentum, we gain even greater capacity to deliver market-leading services and efficiencies in more locations to our existing client base.
“I am also excited that the well-respected Momentum management team, along with their results driven culture, will be joining ABM to help us grow the business.”
Momentum chief executive Ian Anderson stated: “We are very pleased to be joining a world leader in facilities services. Like ABM, we are laser focused on complete client satisfaction, accountability, and providing a respectful and rewarding experience for our team members.”
