Roark Capital wraps up $1.5bn acquisition of ServiceMaster Brands
Roark Capital Management has completed its $1.553 billion acquisition of US-based ServiceMaster Brands, a provider of residential and commercial restoration and cleaning services.
The ServiceMaster Brands franchise businesses has been acquired from ServiceMaster Global by an affiliate of investment funds managed by Roark Capital Management, which is an Atlanta-based private equity firm.
ServiceMaster Brands operates a network of more than 1,850 franchisees in 50 states and nine countries through its portfolio of five brands.
The company’s brands include ServiceMaster Restore, ServiceMaster Clean, Merry Maids, Amerispec, and Furniture Medic mainly operate within the restoration and cleaning industries.
Other offerings of ServiceMaster Brands include home and commercial inspection services and furniture refinishing services.
Roark Capital wraps up $1.5bn acquisition of ServiceMaster Brands. Photo courtesy of The ServiceMaster Company, LLC.
Sarah Spiegel – Managing Director at Roark Capital said: “We have long admired ServiceMaster Brands and its world recognized reputation for excellence. We look forward to a fruitful partnership with both Elane and the network of long-tenured franchisees to pursue the next stage of growth for this business.”
Elane Stock, in connection with the investment, will take over as CEO of ServiceMaster Brands. Before joining ServiceMaster Brands, Elane Stock was the group president of Kimberly-Clark International and global president of Kimberly-Clark Professional.
Following the sale, ServiceMaster Global will rename itself as Terminix Global. The company said that the deal better positions it and ServiceMaster Brands to pursue their own distinct growth strategies.
Terminix Global is a Tennessee-based provider of residential and commercial pest control.
Brett Ponton – CEO of Terminix Global said: “Terminix is moving ahead with a laser focus on being the preferred pest control company in the industry. We look forward to continuing to build on the progress underway to further enhance the customer experience that will drive consistent, profitable growth.
“We see tremendous potential to further capitalize on the powerful Terminix brand name, strong service culture, and significant scale to deliver greater value for all our stakeholders.”