MEMPHIS, Tenn. ServiceMaster Co. the U.S. lawn care, pest control and residential and commercial disaster recovery company, announced that its Terminix business unit had acquired the assets of Safeguard Pest Control.
Safeguard Pest Control operates in 16 markets across the U.S. with annual revenues of over $23 million.
Terms of the deal were not disclosed, but ServiceMaster said it expected the acquisition would have a "modest but positive impact on fourth-quarter 2006 earnings per share."
ServiceMaster also announced that it had completed its sale of American Residential Services to Caxton-Iseman Capital Inc. and Royal Palm Capital Partners Inc. for about $100 million.
ServiceMaster said it would use the proceeds from the sale of the heating, air-conditioning and plumbing unit to pay down debt and finance acquisitions in other service lines.