ServiceMaster Franchise Brands To Be Acquired

Posted Mon, 2007/03/19 - 17:17 by Jim Coen

ServiceMaster Co., which owns such renowned franchise brands as, Terminix, ServiceMaster Clean, Furniture Medic, Merry Maids, and Amerispec, said today it is being bought by an investment group for about $4.48 billion in cash.

The buyout, group led by Clayton, Dubilier & Rice Inc., also will assume about $1.02 billion in debt.

Under terms of the agreement, ServiceMaster stockholders will receive $15.625 in cash for each outstanding share, which is a premium of about 16 percent over ServiceMaster's closing price Friday of $13.47 on the New York Stock Exchange.

The deal represents a premium of roughly 31 percent above ServiceMaster's closing stock price of $11.90 on Nov. 27, the last trading day before the company said it would explore strategic alternatives.

ServiceMaster's board has approved the acquisition. Its stockholders will vote on the transaction at a special meeting expected to be held in the second quarter.

Once the deal is complete, Clayton operating partner George W. Tamke will become ServiceMaster's chairman, replacing J. Patrick Spainhour, who will stay on as ServiceMaster's chief executive. The deal is subject to regulatory approval.

Franchise topic:
- service

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About Jim Coen

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With 30 years of franchise, marketing, and entrepreneurial experience, Jim Coen has developed key skills in communications, marketing, management, and franchisee/franchisor relations.

Coen took over as President and Chief Operating Officer of the Dunkin' Donuts Independent Franchise Owners (DDIFO,Inc.) on December 1, 2008. Prior to that he has been a director of and the Clerk for the DDIFO board since May, 2008. In 2009 Jim and DDIFO entered into an employment agreement that will run thru November 2012.

Coen served as the Vice Chairman of the Board of Directors for the Coalition of Franchisee Associations, a group of franchisee associations leaders that includes: Burger King, Dunkin Donuts, Little Caesars, Meinieke, Super Cuts, Hardees, Subway, Buffalo Wild Wings, and JD Byrider. During his time on the CFA Board, Jim served as Co-Chaor of the Fair Franchising Committee and was one of the crafters of the Universal Franchisee Bill of Rights.

For over 6 years Coen served on the Board of Directors for the New England Franchise Association, an association that is dedicated to sharing best practices to franchise professionals in New England.

For over 20 years Jim worked with Super Coups. Super Coups was a MA based direct mail franchise business to business opportunity that has sinced ceased operations in Massachusetts

Jim successfully marketed franchises for Super Coups as well as Uniglobe Travel Northeast a travel franchise, Merry Maids a maid cleaning franchise, other franchise opportunities as well as Emack & Bolio Ice Cream franchise, where he was also a franchisee.

In addition to his interests in franchising Mr. Coen serves as a member of the Board of Directors for The Bridge Center, a facility in Southeastern Massachusetts that supports families by providing children with special needs the opportunity to build social, emotional, and physical skills so they may participate fully in their communities.

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