Facility Services Quarterly
Q3 2020 UPDATE
ROARK AFFILIATE ACQUIRES SERVICEMASTER BRANDS FOR $1.5B
September 2, 2020: ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading provider of essential services to residential and commercial customers in the termite, pest control, health-based cleaning and restoration markets, announced that, following a thorough strategic review process, it has entered into an agreement to sell its ServiceMaster Brands businesses to an affiliate of Roark Capital. Transaction transforms ServiceMaster Global Holdings into a pure-play, global pest control business with sharpened focus. The deal is worth ~$1.553 billion (EV/Revenue: 6.07x)
LANDSCAPE PARTNERS ACQUIRES SCHILL LANDSCAPING & LAWN CARE SERVICES FOR $12.5M
September 4, 2020: Landscape Partners L.P. , an affiliate of Atlanta-based Argonne Capital Group, raised $12.5 million in equity to invest in Schill Landscaping and Lawn Care Services, LLC. Schill is a commercial landscape management and snow removal business which operates under the name Schill Grounds Management. It is based in the Cleveland area and has three branches. It ranked 31 on Snow Magazine’s Top 100 list in 2020.
NATIONAL FIRE & SAFETY ACQUIRES ELEMENT FIRE PROTECTION
Septmeber 15, 2020: National Fire & Safety, a leading end-to-end fire protection and life safety solutions platform and a portfolio company of Highview Capital, announced the acquisition of Element Fire Protection LLC, a fire safety service and inspection provider based in the greater Phoenix area. Transaction will expand National Fire & Safety’s scale and capabilities in Phoenix, the nation’s fifth largest city, enabling the Company to better serve the fire safety needs of its nearly 2 million residents.
CASTEEL ACQUIRES ACCUTEMP HEATING-COOLING
September 13, 2020: Casteel Heating, Cooling, Plumbing, and Electrical (subsidiary of Horizon Group Holdings), a home services company serving the Atlanta metropolitan area, announced that it has acquired AccuTemp Heating-Cooling Inc., a residential HVAC contractor servicing North Atlanta. The acquisition marks the second for Casteel, which acquired Knight Heating and Air Conditioning in 2018, and reinforces Horizon’s strategy of building market-leading home services businesses in its core markets, primarily Atlanta.