ABM (NYSE: ABM), a provider of integrated facility, infrastructure, and technical solutions, has announced a definitive agreement to acquire WGNSTAR, a specialist in managed workforce solutions and equipment support services for the semiconductor and high-technology industries. The transaction, valued at approximately $275 million in cash, is aimed at strengthening ABM’s position within the rapidly expanding semiconductor services market.
WGNSTAR operates across the United States and Ireland and delivers technical and operational support through a workforce of more than 1,300 employees. The company has established long-standing client relationships, many extending over two decades, particularly within semiconductor manufacturing environments. More than half of WGNSTAR’s revenue is generated from integrated workforce programs that deploy highly trained technical teams to support operational efficiency in chip fabrication facilities. In addition, the company works closely with leading original equipment manufacturers (OEMs) to provide equipment support services, including installation, maintenance, and production tool management.
ABM said the acquisition offers significant growth potential, citing a multi-billion-dollar addressable market for WGNSTAR’s core services in which only a small portion is currently outsourced. Following the transaction, ABM’s semiconductor solutions business is expected to generate approximately $325 million in annualized revenue, positioning the company among the largest integrated semiconductor services providers in North America. This expanded platform is intended to support growth driven by U.S. semiconductor onshoring initiatives, including incentives under the CHIPS Act and rising levels of private investment.
Scott Salmirs, President and Chief Executive Officer of ABM, said WGNSTAR’s semiconductor operations and equipment services complement ABM’s existing capabilities in engineering, energy resiliency, and mission-critical solutions. He noted that the combined offering would allow ABM to address a broader range of customer needs, from cleanroom and critical facility management to specialized technical services supporting chip fabrication and equipment operations.
WGNSTAR Chief Executive Officer Nigel Wenden described the agreement as a milestone in the company’s development since its founding in Ireland 22 years ago. He said the combination with ABM would enable WGNSTAR to expand its reach and deliver more integrated solutions as semiconductor manufacturing activity continues to scale globally.
Under the terms of the agreement, WGNSTAR is expected to generate approximately $135 million in revenue in calendar year 2025, with adjusted EBITDA margins exceeding those of ABM’s Manufacturing & Distribution (M&D) segment. The company is also projected to grow at an annual rate of about 10%. WGNSTAR’s results will be reported within ABM’s M&D segment following the close of the transaction.
ABM said the acquisition is expected to be modestly dilutive to adjusted earnings per share in fiscal 2026, largely due to amortization of acquired intangible assets and related interest expenses. However, the transaction is anticipated to become accretive by $0.05 to $0.07 per share in fiscal 2027, with further earnings growth expected as synergies are realized.
The transaction will be funded through a combination of cash on hand and existing credit facilities and is expected to close during ABM’s second fiscal quarter of 2026, subject to regulatory approvals in the United States and Ireland and other customary closing conditions.
