ServiceMaster sells brand for $1.5 billion

MEMPHIS, Tenn. — One of Memphis’ major corporate companies has sold its brand.

ServiceMaster today announced it has sold its businesses to a Roark Capital affiliate.

ServiceMaster is a leading residential and commercial provider of pest control and cleaning services.

According to a release from the company, the business sold for $1.53 billion.

The sale will help the company’s two brands, Terminix and ServiceMaster, to pursue their own separate strategies and growth opportunities.

ServiceMaster has over 8,000 company locations and franchises, according to the release.

A ServiceMaster representative told FOX13 the company has no plans to relocate its Memphis headquarters Downtown or any of its employees.

The only change to that building will be a name change.

The company is changing its name to Terminix, according to the representative.