ServiceMaster Global Holdings, Inc. (NYSE:SERV) announced it will explore strategic alternatives for its ServiceMaster Brands business, including a potential sale of the segment. "Our continued focus on maximizing shareholder value has led us to the decision to explore strategic alternatives for our ServiceMaster Brands segment,” said ServiceMaster Chairman Naren Gursahaney. “Following a thorough review of our portfolio of businesses and the current strong valuations for businesses like ServiceMaster Brands, we determined the timing is right to explore strategic alternatives.

We believe ServiceMaster shareholders would benefit from our Terminix business becoming a pure-play, global pest control company with enhanced management focus and resources. We expect that proceeds arising from a possible transaction would be used for debt reduction, prudent strategic growth opportunities and shareholder returns. At the same time, we will continue to advance our commitment to predictable, sustainable growth and profitability at Terminix through continued execution of the cultural and operational transformation of the business that is underway".

ServiceMaster has engaged Lazard Ltd. as financial advisor and Wachtell, Lipton, Rosen & Katz as legal advisor in connection with its exploration of strategic alternatives for the ServiceMaster Brands business.