ServiceMaster explained

ServiceMaster Brands
Key People:Greg Weller (CEO)[1]
Anand Naimpally (CFO)
Industry:Service
Revenue:$2.59 billion
Revenue Year:2015
Num Employees:13,000 (2015)
Type:Private
Founder:Marion E. Wade
Foundation:
in Chicago, Illinois, U.S.
Locations:2,000+
Owner:Roark Capital Group

ServiceMaster Brands is an American privately held company owned by Roark Capital Group that provides residential and commercial services. Its headquarters are located in Atlanta, Georgia, after moving there in 2020 from Memphis, Tennessee.[2]

Brands operated by ServiceMaster include ServiceMaster Clean, ServiceMaster Restore, Merry Maids, Two Men and a Truck, Indoor Science and Aftermath Services. The core services of the company are disaster response and restoration, janitorial services, professional home cleaning and Bio Hazard Cleaning.

ServiceMaster has more than 7,000 company-owned and franchise locations around the world. It has 13,000 corporate employees and a franchise network that independently employs over 33,000 additional people. In 2007, the company had approximately 5,500 locations.[3]

History

ServiceMaster was founded in 1929 by Marion E. Wade, a minor league baseball player, as a moth-proofing company in Chicago, Illinois. It was incorporated in 1947 and expanded to franchised carpet cleaning in 1952.[4] Its movement into business services makes it a large outsourcing company.[5]

In the 1980s, the company acquired several branch and franchise-based service companies including Terminix, TruGreen, Merry Maids, and American Home Shield.[6] In 2001, ServiceMaster divested its management services businesses to focus more on its residential and commercial business.

A group of equity sponsors led by Clayton, Dubilier & Rice (CD&R) acquired ServiceMaster in July 2007 and took the company private.[7] In the same year, the company moved its headquarters from Downers Grove, Ill., to Memphis, Tenn.

In 2011, Hank Mullany, former executive vice president of Walmart U.S. and president of northern U.S. Walmart, was appointed as CEO for all ServiceMaster brands.[8] Robert J. Gillette was appointed chief executive officer in June 2013.[9]

As of January 1, 2014, TruGreen is no longer a brand of ServiceMaster, having instead become a separate privately held company. TruGreen acquired Scotts Lawn Service in 2016.

ServiceMaster Global Holdings, Inc., then the parent of ServiceMaster Brands, announced on June 25, 2014, that it had priced an initial public offering of 35,900,000 shares of common stock at $17.00 per share.[10] The shares began trading on the New York Stock Exchange on June 25, 2014, under the ticker symbol SERV. The company continues to be majority-owned by private equity firms Clayton, Dubilier & Rice, StepStone Group and Ridgemont Equity Partners, and JPMorgan Chase Funding.

ServiceMaster moved its global headquarters from East Memphis to Peabody Place in Downtown Memphis in June 2018.[11]

Nikhil Varty was appointed chief executive officer in July 2017.

On July 26, 2017, ServiceMaster Global Holdings, Inc. announced a plan to spin-off its American Home Shield business from its Terminix and Franchise Services Group into a separate publicly-traded company.[12]

In October 2020, Roark Capital Group purchased ServiceMaster Brands.[13]

In August 2021, ServiceMaster Brands purchased Two Men and a Truck, a family-owned moving franchise.[14]

In April 2022, ServiceMaster Brands purchased Aftermath Services, a privately owned trauma & biohazard cleanup company.

Brands

Amerispec is a franchisor which sells and supports residential and commercial inspection services franchisees throughout the United States and Canada.[15] [16] [17] The company's main services are general home inspection, relocation inspections and commercial property inspections. AmeriSpec has around 300 independently owned and operated franchises in the United States and Canada.[18]

AmeriSpec History

References

AmeriSpec sources

Notes and References

  1. Web site: About us . ServiceMaster . 2021-04-07.
  2. Web site: The ServiceMaster Company Investor Relations . Corporate-ir.net . 2012-07-07.
  3. Book: Plunkett, J.W. . Plunkett's Real Estate & Construction Industry Almanac 2007 . Plunkett Research Limited . Plunkett's Real Estate & Construction Industry Almanac . 2007 . 978-1-59392-071-5 . July 31, 2017 . 479.
  4. Web site: History . ServiceMaster . June 17, 2017.
  5. Web site: ServiceMaster . Corporate.servicemaster.com . 2012-07-07.
  6. Web site: SERVICEMASTER SWEEPS UP HOUSECLEANING SERVICE . 2022-05-28 . Chicago Tribune.
  7. Book: Orol, R.D. . Extreme Value Hedging: How Activist Hedge Fund Managers Are Taking on the World . Wiley . 2008 . 978-0-470-19891-9 . November 5, 2017 . 233.
  8. Web site: Dries . Bill . Mullany Outlines Goals For ServiceMaster Brands . Memphis Daily News . November 4, 2017 . November 5, 2017.
  9. Web site: ServiceMaster Appoints Robert J. Gillette As New Chief Executive Officer. https://web.archive.org/web/20180702143038/http://www.prweb.com/releases/2013/6/prweb10845271.htm . dead . July 2, 2018 . PRWeb. ServiceMaster. June 18, 2013. 2017-12-18.
  10. Web site: ServiceMaster Global Holdings, Inc. Completes Its Initial Public Offering . ServiceMaster Global Holdings, Inc..
  11. Web site: ServiceMaster to Relocate Headquarters to Downtown Memphis. mediacenter.servicemaster.com.
  12. News: 2017-07-26 . BRIEF-Servicemaster announces intention to spin off American Home Shield . en . Reuters . 2022-04-25.
  13. Web site: 2020-10-01. Roark Capital Acquires ServiceMaster Brands. 2021-03-04. www.businesswire.com. en.
  14. Web site: Lyons . Craig . Family-owned Two Men and a Truck, founded and headquartered in Lansing, sold to Atlanta firm . 2021-09-14 . Lansing State Journal . en-US.
  15. Book: Plunkett, J.W. . Plunkett's Real Estate & Construction Industry Almanac 2007: Real Estate & Construction Industry Market Research, Statistics, Trends & Leading Compani . Plunkett Research Limited . Plunkett's Real Estate & Construction Industry Almanac . 2007 . 978-1-59392-071-5 . November 5, 2017 . 479.
  16. Book: SMU Law Review: A Publication of Southern Methodist University School of Law . Southern Methodist University School of Law . v. 55, no. 2 . 2002 . November 5, 2017 . 1100, 1108–1109.
  17. Book: Klarfeld, P.J. . Covenants Against Competition in Franchise Agreements . Forum on Franchising, American Bar Association . Hein's ABA Archive Microfiche Collection . 2003 . 978-1-59031-114-1 . November 5, 2017 . 415.
  18. Book: Group . T.P.L. . Arden . L. . 220 Best Franchises to Buy: The Essential Sourcebook for Evaluating the Best Franchise Opportunities . Crown Publishing Group . 2010 . 978-0-307-43211-7 . November 5, 2017 . 363.
  19. Book: Franchise Times . Restaurant Finance Corporation . v. 7 . 2001 . November 5, 2017 . 8.
  20. Book: Levonsky . R. . Conley . M.A. . Ultimate Book of Franchises . McGraw-Hill Companies, Incorporated . Ultimate Book of Franchises . 2004 . 978-1-932156-86-7 . November 5, 2017 . 260.
  21. Web site: ServiceMaster is one of area's largest private employers . archive.commercialappeal.com . April 30, 2016 . November 5, 2017.

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