SERVICEMASTER GLOBAL HOLDINGS,INC. (NYSE:SERV) Files An 8-K Regulation FD Disclosure
Item 7.01Regulation FD Disclosure.
On December 19, 2018, ServiceMaster Global Holdings, Inc., as part of a continuous review of quality of revenue and earnings, and after an in depth review of the termite product line, announced the divestiture of its termite fumigation business, primarily operating in California and Florida.The divestiture will allow Terminix to focus on its profitable core preventative and curative liquid and bait termite markets. This divestiture will have a full year impact of approximately $25 million in revenue and a negligible EBITDA impact. The divestiture is expected to be completed on February 1, 2019, subject to customary closing conditions.
About SERVICEMASTER GLOBAL HOLDINGS,INC. (NYSE:SERV)
ServiceMaster Global Holdings, Inc. is a holding company. The Company is a provider of essential residential and commercial services. Its services include termite and pest control, home warranties, disaster restoration, janitorial, residential cleaning, furniture repair and home inspection. The Company operates through three segments: Terminix, American Home Shield and the Franchise Services Group. The Terminix segment provides termite and pest control services to residential and commercial customers and distributes pest control products. Terminix specializes in protection against termite damage, rodents, insects and other pests. The American Home Shield segment provides home warranties for household systems and appliances. The Company’s Franchise Services Group segment consists of the ServiceMaster Restore (disaster restoration), ServiceMaster Clean (janitorial), Merry Maids (residential cleaning), Furniture Medic (furniture repair) and AmeriSpec (home inspection) businesses.
