ServiceMaster to Sell Management Division
Downers Grove, Illinois-As it winds down its restructuring plan, ServiceMaster Co. said it will sell its management services unit, which serves institutional customers, to Philadelphia-based ARAMARK Corp. for $800 million in cash. The management services division employs 18,000 workers and manages a workforce of 69,000 in health-care and education institutions.
ServiceMaster also said it is winding down certain unprofitable operations, including its TruGreen LandCare Construction business. -Crain's Chicago Business