TruGreen selling out???

Discussion in 'General Industry Discussions' started by americanlawn, Mar 23, 2007.

  1. americanlawn

    americanlawn LawnSite Fanatic
    from midwest
    Posts: 5,842

    During the past 3 days, I have received several notifications that Service Master will sell their Tru Green division by this year's 3rd quarter.

    Anyone else know about this?

    I started with the "original" ChemLawn in 1978. Started my own business before the Duke family sold.

    1st ChemLawn sell-out was to "Waste Management". (the mob)
    2nd sale was "Ecolab".
    3rd sale = TruGreen (Service Master)

    I ased two local true qween guys this week, and they had no idea???

    Please post what you have heard.

    Thanks.
     
  2. Roger

    Roger LawnSite Fanatic
    Posts: 5,916

  3. Runner

    Runner LawnSite Fanatic
    Posts: 13,496

    The reason no one responded to that particular thread, is that it was being discussed on a different thread. A private co. by the name of Clayton, Dubilier & Rice, Inc. won the bid for aquiring the megacorporation. They however did not purchase the trugreen division owned by servicemaster. They purchased servicemaster. After falling profits and stock affected trugreen, which is a large portion (along with tg landcare) of this corp., they opted to take the bids for selling. This firm has done this with many other other corporations in the past and revamps them. their average length of ownership is around 5 years.
     
  4. Trees Too

    Trees Too LawnSite Silver Member
    Posts: 2,191

    I know that this is a very old thread. But here is the latest as of Nov 2013. Both the Memphis Daily News and L&L report that ServiceMaster is going to spin-off TruGreen as an independent company, effective on or around Dec 31. TG has lost 300,000 customers in the past 2 years. Reuters reports that over the past 2 years SVM has incurred $1.6 billion in "impairment charges" (writing-off off a worthless asset.) Referring to TruGreen!!!
     
  5. Middle Tennessee Lawn

    Middle Tennessee Lawn LawnSite Member
    Posts: 220

    Wow shows how the economy has affected them
    Posted via Mobile Device
     
  6. BPS##

    BPS## LawnSite Senior Member
    from WY
    Posts: 828

  7. grassmonkey0311

    grassmonkey0311 LawnSite Silver Member
    from MD/NC
    Posts: 2,096

    Coming from my inside source:

    TruGreen is going to be a stand alone company, and it is for sale. Service master wants to go public. Profits are way down and sounds like service master ran it like crap.

    How nuts would it be if the same company who bought Brickman buys Trugreen???
     
  8. die4irish

    die4irish LawnSite Member
    from ohio
    Posts: 104

    Servicemaster is a joke. I worked for Terminix for 7 years before finally getting out. The corporate bulls**t they pull is something else. Don't ever blame the technicians most of them care very much it's just they are not allowed to do their job ethically.
     
  9. Trees Too

    Trees Too LawnSite Silver Member
    Posts: 2,191

    If you Google "ServiceMaster financial" you will read several reports that explain that SVM would be profitable, if it weren't for TruGreen dragging SVM down!:cry:
     
  10. All Season Bill

    All Season Bill LawnSite Member
    Posts: 158

    Believe....we can all do a better job than them!!


    Unfortunately we all blame the techs when it's really out of their hands.
     

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