Memphis, Tenn. (PRWEB) December 10, 2015
TruGreen today announced a planned merger with Scotts LawnService to create North America’s premier lawn care company. TruGreen President and CEO David Alexander will lead the combined company, which will remain headquartered in Memphis, Tennessee.
“By bringing together the two most innovative brands in the industry, our combined expertise will give customers a lawn they love, with a certified, trained and experienced workforce delivering quality service that’s guaranteed,“ said Alexander, TruGreen President and CEO. “This opportunity further accelerates the transformation TruGreen has experienced in the last two years achieving significant gains in revenue, customer growth and employee satisfaction.”
The company, which plans to operate under the TruGreen brand, will continue to be a privately-held company with funds managed by private investment firm Clayton, Dubilier and Rice (CD&R) as the majority shareholder. John Compton, a CD&R Operating Partner and former PepsiCo President, will continue to serve as TruGreen’s Chairman. Scotts MiracleGro will also have a significant minority equity stake in the new entity.
“We believe strongly in the commercial logic and exciting long-term growth prospects of merging these two great brands, and we expect our combined capabilities to offer a highly compelling value proposition to customers,” said Compton.
Following the merger, TruGreen’s local network of branches and franchise locations will serve approximately 2.3 million residential and commercial customers across the U.S. and Canada with lawn, tree and shrub care, representing approximately $1.3 billion in revenue.
Jim Gimeson, President of Scotts LawnService, will join the TruGreen leadership team, serving as Chief Operating Officer. “Both companies share a deep commitment to providing the best value and experience for customers,” said Gimeson. “I’m excited to bring the best of both companies to our customers as a stronger single organization.”
After closing, the newly merged company will continue its shared belief that life is better lived outside and a commitment to local community involvement, encouraging associates to make positive impacts in the communities where they live and work.
Debevoise & Plimpton LLP and Richards, Layton & Finger, PA acted as legal advisors to TruGreen and CD&R.
Memphis, Tenn.-based TruGreen is the nation’s largest lawn care company, serving more than 1.9 million residential and commercial customers across the United States with lawn, tree and shrub care. TruGreen believes more life should be lived outside and is committed to providing a beautiful lawn to serve as the foundation for outside experiences and lifelong memories. As the leader in the professional lawn care industry, TruGreen helps define responsible lawn care practices, conducts industry-leading education and training for our people, pioneers new application technologies and educates our customers on proper mowing and wise-use watering techniques. Today, there are approximately 260 TruGreen lawn care branches and satellite offices in the United States and Canada.