In truth, the 37-page lawsuit claims, the defendants unlawfully failed to disclose or omitted that years of “costly termite litigation” centered on apparent infestation troubles in Mobile, Alabama would ultimately harm ServiceMaster’s current and future financial position and damage investors.
Full Answer
What is ServiceMaster Global Holdings doing with Terminix?
Transaction transforms ServiceMaster Global Holdings into a pure-play, global pest control business with sharpened focus ServiceMaster Global Holdings will change its name to Terminix at closing Roark Capital will be a strong and supportive owner of ServiceMaster Brands with ownership of the ServiceMaster name
What does The ServiceMaster-Terminix deal mean for ServiceMaster customers?
Once the deal goes through, ServiceMaster Global Holdings will be renamed Terminix, the name of the largest unit in the network. The deal will conclude a decade of change, CEO turnover and streamlining.
Who took over Terminix?
It later was taken over by the old Memphis commodities trader Cook Industries, became affiliated with national retailer Sears and changed hands again. ServiceMaster Global was formed to oversee Terminix and the cluster of other firms including TruGreen and Merry Maids handling home and business services.
Can I file a class action lawsuit against Terminix?
Can I file one against Terminix? A class action lawsuit is a type of legal suit filed by a group called a class. If a large enough class has the same issue, class members can start a lawsuit that allows other people who have the same issue to join.
Who is Terminix owned by?
Rentokil InitialMemphis-based Terminix will be purchased by Rentokil Initial, a United Kingdom-based global pest control business, for $6.7 billion. The acquisition was announced early Tuesday. The transaction will "create the global leader in pest control," according to a news release.
Did Terminix change its name?
2, the company is changing its name to Terminix Global Holdings. Its stock will begin trading Monday, Oct. 5, 2020, under the NYSE ticker symbol TMX, instead of SERV. “Today marks the beginning of exciting new chapters for both Terminix and ServiceMaster Brands,” CEO Brett Ponton said in a news release.
Who is the CEO of Terminix pest control?
Chief Executive Officer Brett Ponton joined as CEO and member of the board of directors in September 2020. He joined from Monro, Inc. (Nasdaq: MNRO), where he served as president and chief executive officer of the largest independent operator of tire and auto service retail stores in the U.S.
Does ServiceMaster still exist?
In October 2020, Roark Capital Group purchased ServiceMaster Brands. In August 2021, ServiceMaster Brands purchased Two Men and a Truck, a family-owned moving franchise. In April 2022, ServiceMaster Brands purchased Aftermath Services, a privately owned trauma & biohazard cleanup company.
Is ServiceMaster part of Terminix?
Terminix is a business unit of ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading provider of essential residential and commercial services.
What is the largest pest control company in the United States?
RollinsU.S. leading pest control companies based on revenue 2020 In 2020, Rollins was the leading U.S. pest control company based on revenue, at nearly 2.01 billion U.S. dollars. In second place that year was Terminix International, with 1.78 billion U.S. dollars in revenue.
Is Terminix a Fortune 500 company?
Terminix is the largest pest control company in the nation. They are a Fortune 500 company and have good incentives.
What brands does Terminix own?
The Company's portfolio of well-recognized brands includes AmeriSpec (home inspections), Copesan (commercial national accounts pest management), Furniture Medic (cabinet and furniture repair), Merry Maids (residential cleaning), Nomor (European pest control), ServiceMaster Clean (health-based commercial cleaning), ...
What is ServiceMaster termite?
ServiceMaster Global Holdings, Inc. is a leading provider of termite and pest control, cleaning and restoration services in both the residential and commercial markets, operating through an extensive service network of more than 8,000 company-owned locations and franchise and license agreements. The Company’s portfolio of well-recognized brands includes AmeriSpec (home inspections), Copesan (commercial national accounts pest management), Furniture Medic (cabinet and furniture repair), Merry Maids (residential cleaning), Nomor (European pest control), ServiceMaster Clean (health-based commercial cleaning), ServiceMaster Restore (restoration and reconstruction), Terminix (termite and pest control), and Terminix Commercial (commercial termite and pest control). The Company is headquartered in Memphis, Tenn. Go to servicemaster.com for more information about ServiceMaster or follow the Company at LinkedIn.com/Company/ServiceMaster, Twitter.com/ServiceMaster or Facebook.com/ServiceMaster .
Where is ServiceMaster located?
The Company is headquartered in Memphis, Tenn. Go to servicemaster.com for more information about ServiceMaster or follow the Company at LinkedIn.com/Company/ServiceMaster, Twitter.com/ServiceMaster or Facebook.com/ServiceMaster .
When will Terminix stock change?
The Company’s name will change from ServiceMaster Global Holdings Inc., to Terminix Global Holdings, Inc., and its common stock will begin trading under the NYSE ticker symbol ‘TMX’ on October 5, 2020.
When will Terminix stock start trading?
With the completion of the sale, the Company is changing its name to Terminix Global Holdings, Inc., and its stock will begin trading Monday, October 5, 2020 under the NYSE ticker symbol ‘TMX’. The transaction better positions both Terminix and ServiceMaster Brands to pursue their own distinct growth strategies.
When will ServiceMaster loan B mature?
In conjunction with the amendment, the Company made an approximately $51 million advance amortization payment on the Term Loan B, set to mature in November of 2026. There were no additional material changes to the terms of the Term Loan B and there was no extension of the maturity date.
Where is Terminix located?
Headquartered in Memphis, Tenn. , with more than 10,500 teammates and 2.8 million customers in 24 countries and territories, the Company visits more than 50,000 homes and business every day. To learn more about Terminix, visit Terminix.com, or LinkedIn.com/company/terminix .
When will the Term Loan B maturity date be?
In conjunction with the amendment, the Company made an approximately $51 million advance amortization payment on the Term Loan B, set to mature in November of 2026. There were no additional material changes to the terms of the Term Loan B and there was no extension of the maturity date.
What is the settlement with Terminix?
O n November 5, 2020, the Attorney General of Alabama announced that the state had reached a settlement with Terminix, the US’s largest pest care company. The state described the outcome as a $60 Million Settlement with Terminix Over Illegal Business Practices Targeting Alabama Consumers.
Can you get a settlement with Terminix if you are not from Alabama?
If you are not from Alabama, you do not appear to be eligible for any compensation from this Terminix settlement. But you should still know about this Terminix settlement, particularly if you’ve had something like this happen to you — where Terminix has failed to deliver promised services, overcharged you, or jacked up your rates ...
Can you sue Terminix in a court?
If you have a Terminix complaint in another state, your contract probably says you can’t sue Terminix in any court except small claims court. But you can initiate a consumer arbitration claim, and FairShake can help you get started!
How much money does Terminix Global hold?
Terminix Global reported it will hold $1.1 billion after taxes and fees are paid on the Roark Capital purchase. With the money, Terminix Global will pay off $800 million in debts and earmark the remainder for stock repurchases or possible buyouts of other firms.
How many people does Terminix employ?
The company including franchises employs 10,500 people and has 2.8 million customers in 24 nations, the company says.
When is Terminix's debt payment due?
Payment on the largest chunk of debt, a $750 million high-yield bond, is due Nov. 15, the company reported. For stock repurchases, the board of directors has authorized buying as much as $400 million worth of Terminix Global shares over the next three years.
When did ServiceMaster Global move to Memphis?
The deal was announced in September and completes the dismantling of ServiceMaster Global since its move to Memphis from suburban Chicago in 2007. At the time it was the fourth-largest publicly traded company based in the city and employed as many as 2,400 people in Memphis.
Where is Terminix headquarters?
Clayton Dubilier moved the head offices to Memphis in 2007, site of the largest unit in the enterprise, Terminix. The New York investor, backed by former General Electric chairman Jack Welch, brought in automotive executive Robert Gillette as chief executive in 2013.
Who owns Roark franchise?
Aronson sold U.S. Franchise in 2001 to the wealthy Pritzker family of Chicago and opened Roark. The name Roark comes from a figure in the pro-capitalism novel "The Fountainhead.". The Atlanta firm says it invests in 78 retail, restaurant, consumer and business services brands that operate primarily as franchise networks.
Register your Termite Complaint
If you have suffered damages in this pest control case, you may qualify for damages or remedies that may be awarded in a possible class action or lawsuit. Please fill in our form on the right to submit your termite complaint to a lawyer for a free evaluation.
Reader Comments
Terminex goes up on their yearly contract .The last 4-5 years I have called them to protest, Terminex said they raise their costs because of more expensive and better chemicals.