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The international service franchisor has entered into an agreement with a leading franchise investment firm.
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ServiceMaster Global Holdings, Inc., a provider of essential services to residential and commercial customers in termite, pest control, and health-based cleaning and restorative markets, has entered into an agreement with Roark Capital to sell its ServiceMaster Brands businesses for $1.553bn.
The transaction will allow ServiceMaster Global Holdings’ two businesses, Terminix and ServiceMaster Brands, to pursue their own distinct strategies and growth opportunities. ServiceMaster Brands includes concepts such as ServiceMaster Restore, Merry Maids, and AmeriSpec, and the organization’s entire portfolio generated $2.6bn in system-wide sales over a 12-month period ending June 30, 2020.
“ServiceMaster Brands is the largest franchisor in commercial and residential services with over $2.6bn in system-wide sales in the large and growing restoration and health-based cleaning services industries,” said Naren Gursahaney, ServiceMaster chairman and interim CEO. “With a resilient market position, trusted brand names, and exciting new growth strategies, the business and its experienced teams and franchisees are well-positioned for strong long-term growth. Roark Capital has a strong track record of supporting franchisees and dedicating substantial resources to growing need-based services businesses, and we are confident that ServiceMaster Brands has a bright future ahead.”
Mike Thompson, MD at Roark Capital, added: “We are thrilled to welcome ServiceMaster Brands to our family. 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.”
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