ServiceMaster Divests Brands to Focus on Pest ControlSeptember 2, 2020
ServiceMaster Global Holdings Inc. has sold its ServiceMaster Brands franchise business to Roark Capital for US$1.55 billion.
The ServiceMaster Brands portfolio includes ServiceMaster Clean, Merry Maids, ServiceMaster Restore, AmeriSpec, and Furniture Medic. Upon close of the sale, which is anticipated to take up to 60 days, ServiceMaster Global Holdings will rebrand itself as Terminix and focus almost exclusively on pest control.
“This transaction represents a tremendous outcome for the stakeholders of both of our businesses,” said Naren Gursahaney ServiceMaster Chairman and interim CEO. “Through this divestiture, Terminix will become a pure-play, global pest control company, better positioned for the future.”
“We are thrilled to welcome ServiceMaster Brands to our family,” said Mike Thompson, Roark Capital managing director. “We are excited to partner with the team and support ServiceMaster Brands’ long-tenured and successful franchisees to realize the tremendous growth potential of these brands.”
About ServiceMaster Clean
ServiceMaster Clean is one of North America’s largest cleaning and restoration companies with more than 4,500 franchise locations worldwide. For more information, visit www.servicemasterclean.com.