ABM entered a definitive agreement to acquire RavenVolt, Inc., a nationwide provider of advanced turn-key microgrid systems used by commercial and industrial customers, national retailers, utilities, and municipalities.
Headquartered in Alpharetta, GA, RavenVolt employs over 80 people and is projected to generate revenue of $70 million to $80 million and EBITDA (as defined in the definitive agreement) of $17 million to $19 million in calendar 2022.
This acquisition is reflective of ABM’s ELEVATE strategy to grow via strategic acquisitions, which expand the company’s core capabilities in attractive and dynamic end-markets, such as the microgrid market. Commercial customers are increasingly turning to microgrids as the solution of choice to bolster their on-site energy capacity, reduce emission and meet sustainability goals, and ensure power resiliency during periods of primary power grid disruption.
RavenVolt designs and installs customized microgrid solutions, including RavenVolt branded generators and switchgear that deliver modular and redundant power to ensure energy resiliency and reliability. The acquisition of RavenVolt is an extension of ABM’s Technical Solutions service offerings and supports ABM’s position as a leader in EV infrastructure, power, and bundled energy solutions.
The addition of RavenVolt’s microgrid capabilities also offers ABM the potential to accelerate growth in its eMobility business through the delivery of customized power solutions in facilities where additional power generation capacity is needed to support EV charging.
“RavenVolt is a natural complement to our growing energy solutions and EV business, “ said Scott Salmirs, President and CEO of ABM. “As our clients’ power needs continue to evolve, many have invested in microgrid technology or are considering doing so, and we believe this trend will accelerate.”