ServiceMaster Global Holdings becomes Terminix Global Holdings after sale of ServiceMaster brand
In September 2020, ServiceMaster Global Holdings Inc. sold its ServiceMaster brand to Roark Capital Management. After the sale, the company changes its name to Terminix Global Holdings Inc. Terminix remained a publicly traded company providing pest control solutions. Its ServiceMaster division became its own private company, The ServiceMaster Company LLC., focusing on janitorial services. In 2018, prior to the sale and name change, ServiceMaster brands accounted for 12.8% of total revenue and 9.2% of cost of goods sold. The sale enables Terminix to focus entirely on pest control solutions, customer retention and performance.
New Activity|Structural|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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