J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are serving as joint book-running managers and as representatives of the underwriters for the offering.
While a date for the IPO hasn’t been set yet, ServiceMaster has been working through the process for years. It never stopped reporting quarterly earnings, and over the last two years, ServiceMaster began implementing changes to its primary brands, Terminix, American Home Shield, ServiceMaster Restore and ServiceMaster Clean that resulted in those brands increasing revenue, reported the MBJ.
This past Dec. 31, ServiceMaster cut ties with its billion-dollar lawn care division, TruGreen, which is now a separate private company.
ServiceMaster, which employs more than 2,300 locally and 20,000 company-wide, owns Terminix, American Home Shield, ServiceMaster Restore, ServiceMaster Clean, Merry Maids, Furniture Medic and AmeriSpec. It serves approximately 5 million residential and commercial customers.