Roark Capital has acquired ServiceMaster Brands, a provider of residential and commercial restoration and cleaning services. No financial terms were disclosed. In connection with the investment, Elane Stock will assume the role of CEO at ServiceMaster Brands.
ATLANTA & MEMPHIS, Tenn.–(BUSINESS WIRE)–Roark Capital, an Atlanta-based private equity firm focused on investing in franchised and multi-location businesses, announced today that its affiliate has acquired ServiceMaster Brands.
ServiceMaster Brands, one of the nation’s leading providers of residential and commercial restoration and cleaning services, operates a network of over 1,850 franchisees through its portfolio of five brands in 50 states and nine countries.
In connection with the investment, Elane Stock will assume the role of CEO at ServiceMaster Brands. Prior to joining ServiceMaster Brands, Elane served as Group President of Kimberly-Clark International and Global President of Kimberly-Clark Professional, both divisions of Kimberly-Clark Corporation.
Sarah Spiegel, Managing Director at Roark, said, “We have long admired ServiceMaster Brands and its world recognized reputation for excellence. We look forward to a fruitful partnership with both Elane and the network of long-tenured franchisees to pursue the next stage of growth for this business.”
“I am pleased to join ServiceMaster Brands. The Company and its franchisees have a proven history of delivering consistent, high-quality service across the portfolio of brands. I am excited to leverage Roark’s experience in service-sector franchising to help further accelerate our franchisees’ growth,” said Elane.
With ServiceMaster Brands, affiliates of Roark have invested in 88 franchise/multi-location brands to date.
Roark focuses on franchised and multi-location business models in the retail, restaurant, consumer and business services sectors. Since inception, affiliates of Roark have invested in 88 franchise/multi-location brands, which generate approximately $43 billion in annual system revenues from approximately 42,000 locations in 50 states and 85 countries. For more information, please visit www.roarkcapital.com.
About ServiceMaster Brands
Founded in 1929, ServiceMaster Brands operates a network of over 1,850 franchisees through its portfolio of five brands in 50 states and nine countries. The Company’s brands (including ServiceMaster Restore, ServiceMaster Clean, Merry Maids, Furniture Medic, and Amerispec) operate primarily within the restoration and cleaning industries. Other offerings include furniture refinishing services and home and commercial inspection services. For more information, visit www.servicemaster.com.