(Reuters) - Janitorial services provider ABM Industries Inc said it would buy privately held rival GCA Services Group for about $1.25 billion, more than tripling revenue at its high-margin business that provides services to schools and colleges.

Shares of ABM rose as much as 5.4 percent to $42.90, their biggest intraday percentage gain in more than four months.

GCA Services is owned by Goldman Sachs Group Inc and private equity firm Thomas H Lee Partners LP. It provides janitorial and custodial services to more than 3,200 public schools and over 80 colleges and universities across United States.

More at source: Reuters

Find A Janitorial Service Here