GCA Services: THL, Goldman Sachs to sell GCA Services for $1.25 bln

ABM said July 11 that it agreed to buy GCA Services Group from Thomas H. Lee Partners LP and Goldman Sachs Merchant Banking Division for about $1.25 billion in cash and stock. GCA, of Cleveland, provides facility services in the education and commercial industries, specializing in facilities maintenance, janitorial services, grounds management, vehicle services and outsourced workforce solutions. Once the deal closes, THL and Goldman will own approximately 14 percent of ABM's outstanding shares. J.P. Morgan Securities LLC is financial adviser to ABM. Jones Day and Davis, Polk and Wardwell are its legal advisers. Goldman Sachs and Kirkland & Ellis LLP are serving as GCA's financial and legal advisers, respectively.