ServiceMaster Global to Sell ServiceMaster Brands for $1.553B

Sept. 2, 2020, 11:41 AM

ServiceMaster Global Holdings in agreement to sell its ServiceMaster Brands businesses to an affiliate of Roark Capital, for $1.553 billion.

  • Sees deal closing in about 30-60 days
  • Company expects net proceeds of over $1.1 billion from the divestiture after paying approximately $420 million in taxes
    • Company says proceeds to be used by Terminix for debt reduction, organic and inorganic investments in pest control and return to shareholders
  • Affirms 3Q continuing operations revenue guidance between $495 million and $515 million
  • Affirms 3Q continuing operations Adjusted EBITDA guidance between $80 million and $90 million
  • Affirms 3Q ServiceMaster Brands revenue guidance between ...

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