ABM Industries, a provider of facility solutions, entered into a definitive agreement to acquire GCA Services Group from affiliates of Thomas H. Lee Partners and Goldman Sachs Merchant Banking Division for approximately $1.25 billion in cash and stock.

Under the terms of the agreement, ABM will acquire GCA for $851 million in cash and $399 million in shares of ABM common stock.

Scott Salmirs, president and CEO of ABM Industries, commented, “This transformative and accretive acquisition will accelerate our 2020 Vision by creating a broader platform upon which we can grow profitably and further distinguish ABM as an industry-focused solutions provider,”

ABM plans to fund the cash portion of the purchase price and transaction expenses via its amended revolving credit facility, in addition to a five-year amortizing term loan. JPMorgan Chase Bank and Bank of America Merrill Lynch have committed to provide the financing for the transaction.

J.P. Morgan Securities is serving as exclusive financial advisor to ABM. Jones Day and Davis, Polk and Wardwell are serving as its legal advisors. Goldman Sachs and Kirkland & Ellis are serving as GCA’s financial and legal advisors, respectively.

GCA is a provider of facility services in the education and commercial industries, specializing in facilities maintenance, janitorial services, grounds management, vehicle services and outsourced workforce solutions.