Mid-South business headlines: Terminix, ServiceMaster Brands likely to stay based in Memphis after $1.5B sale

Mid-South business headlines: Terminix, ServiceMaster likely to stay in Memphis after $1.5B sale

MEMPHIS, Tenn. (WMC) - One big business that calls the Bluff City home is about to go through some major changes.

ServiceMaster Global Holdings will sell its ServiceMaster Brands business for $1.5 billion.

The Memphis Business Journal reports Roark Capital, an Atlanta‐based private equity firm, made the purchase.

“They’re a really big company. They own significant stakes in a lot of franchise companies that we’re familiar with including Cheesecake Factory, Jimmy John’s, Sonic, Meineke... So, ServiceMaster kind of fits,“ said Greg Akers, Editor-in-Chief of the Memphis Business Journal.

ServiceMaster Global Holdings will now be called Terminix, as it seeks to become a pure play pest control company.

“Terminix is about seven times bigger than ServiceMaster brands, in terms of revenue last year,” said Akers.

A spokesperson says Roark has no plans to relocate any offices or staffers. Nor does it intend to reduce the workforce.

You can find these stories and more online at MemphisBusinessJournal.com.

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