ServiceMaster completes TruGreen spin-off

January 15, 2014 -  By

ServiceMaster completed the separation of its TruGreen business on Jan. 14, according to a filing with the U.S. Securities and Exchange Commission.

Memphis, Tenn.-based ServiceMaster spun off assets and certain liabilities of TruGreen through a tax-free, pro rata dividend to private equity firm Clayton, Dubilier & Rice.

The deal was first announced in November during the company’s third-quarter earnings call. The move was expected to close by the end of 2013 but was delayed slightly due to logistical reasons.

Marisa Palmieri

About the Author:

Marisa Palmieri is an experienced Green Industry editor who's won numerous awards for her coverage of the landscape and golf course markets from the Turf & Ornamental Communicators Association (TOCA), the Press Club of Cleveland and the American Society of Business Publication Editors (ASBPE). In 2007, ASBPE named her a Young Leader. She graduated with a Bachelor of Science in Journalism, cum laude, from Ohio University’s Scripps School of Journalism.

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