Feb. 9, 2006: ServiceMaster to Sell American Residential Services, American Mechanical Services
ServiceMaster stated that it is exploring alternatives for American Residential Services and American Mechanical Services including the sale of both businesses. The company has retained William Blair & Company as its financial advisor to assist in this process. The company said that it does not expect to disclose developments concerning the status of this process unless and until it and its board of directors has approved a definitive transaction.
"Our best opportunity to build shareholder value is to have fewer priorities and to pursue them with greater intensity. We have applied that thinking to both our strategies and our portfolio," said Jonathan Ward, chairman and chief executive officer. "This action reflects the company's continued commitment to brands which have the ability to achieve sustainable national market leadership and a high potential to achieve significant and consistent growth in share, revenue, and return on capital."