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Womble Bond Dickinson Team Counsels Quality Uptime Services in Nine-Figure Sale Transaction
Jul 11 2024
Womble Bond Dickinson client Quality Uptime Services recently completed a sale to ABM Industries Incorporated. A WBD team led by Patrick Strubbe and D. Scott Anderson counseled Quality Uptime and its ownership group, including Seaport Capital affiliates, in the complex transaction. The multidisciplinary team also included attorneys Patrick Allen, Hayden Holliman, Jim Kearney, Richard Rainey, Jake Rifkin, Mike Tobin, and Mark Wiley.
Connecticut-based Quality Uptime is a leading independent uninterrupted power supply system (“UPS”) maintenance and UPS battery maintenance company. Under terms of the transaction, Quality Uptime and its 130+ employees will become part of ABM’s Mission Critical Solutions group. The $119 million all-cash deal was announced June 24.
In a statement, Quality Uptime CEO John Raio said, “Joining ABM represents an exciting new chapter for us. Our clients and team will benefit from ABM’s scale and expanded suite of services, as well as the combined expertise of both organizations. We are excited about the opportunities this combination creates and are committed to continuing our tradition of excellence and innovation in the data center industry.”
About ABM
ABM (NYSE: ABM) is one of the world’s largest providers of integrated facility solutions. A driving force for a cleaner, healthier, and more sustainable world, ABM provides essential services and forward-looking solutions that improve the spaces and places that matter most. From curbside to rooftop, ABM provides comprehensive facility services that includes janitorial, engineering, parking, electrical & lighting, energy solutions, HVAC & mechanical, landscape & turf, and mission critical solutions. ABM delivers these custom facility solutions to properties across a wide range of industries – from commercial office buildings to universities, airports, hospitals, data centers, manufacturing plants and distribution centers, entertainment venues and more. Founded in 1909, ABM serves over 20,000 clients, with annualized revenue of over $8 billion and more than 100,000 team members in 350+ offices throughout the United States, United Kingdom and other international locations.
About Seaport Capitol
Seaport Capital, based in New York City, invests in private companies with EBITDA between $3 million to $15 million in the communications services, business and information services, and media sectors. They are long-term oriented investors that focus on building lasting and leading companies. For more information, visit www.seaportcapital.com.
About Quality Uptime Services
Supporting a national client base across multiple industries, Quality Uptime Services provides uninterrupted power supply system and battery preventive maintenance through a team of factory-trained field service engineers. With over 9 million square feet of raised floor under contract and industry-leading customer retention, clients confidently engage Quality Uptime to maintain 100 percent uptime. For more information, visit www.qualityuptime.com.
About Womble Bond Dickinson
Womble Bond Dickinson provides mission-critical legal services to companies who are leading the way in innovation. With more than 1,000 lawyers in 32 locations throughout the UK and US, Womble offers practical solutions and new perspectives for global clients in multiple sectors such as technology, life sciences, energy, and advanced manufacturing – all designed to help get clients where they want to be.
