ServiceMaster Announces Stock Buyback
ServiceMaster's Board of Directors approved a $150 million share repurchase program in early October. The company said the shares will be repurchased in the open market or privately negotiated transactions.
Building One Announces Partnership
Building One Services Corp. (Nasdaq: BOSS) announced that it has formed a partnership with the Network Solutions Group of Marconi Communications. The companies have been working together for the last six months, and Building One has already completed more than $1 million per month in services. As part of the deal, Building One will provide installation services for Marconi's telecommunications customers in the United States.
GroupMAC Completes $87 Million Acquisition
Group Maintenance America Corp. (NYSE: MAK) announced in early September that it completed the acquisition of four companies with annualized revenues of $87 million. The companies included Mechanical Services of Orlando Inc. GroupMAC now operates 110 locations in 28 states throughout the United States, and has annualized revenues of approximately $1.5 billion.
AMPAM Buys 3 Companies
American Plumbing and Mechanical Inc. announced the addition of three companies with combined annual revenues of $66 million. The companies are Atlas Plumbing & Mechanical Inc. of Manassas Park, Va., Parks Mechanical Construction Corp. of Los Angeles, and Southey Plumbing Inc. in Surprise, Ariz.