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Rating Action: Moody's downgrades TruGreen's CFR to B3; outlook is stableGlobal Credit Research - 19 Aug 2022Approximately $1.7 billion of debt securities affectedNew York, August 18, 2022 ...
TruGreen, originally known as ChemLawn and later as TruGreen ChemLawn, is the largest lawn treatment company in the United States. [ 1 ] [ 2 ] [ 3 ] The company was founded in 1969 and provides lawn care and tree and shrub care treatments on a subscription basis (except in New York where it is by contract basis). [ 4 ]
As of January 1, 2014, TruGreen is no longer a brand of ServiceMaster, having instead become a separate privately held company. [10] ServiceMaster Global Holdings, Inc., then the parent of ServiceMaster Brands, announced on June 25, 2014, that it had priced an initial public offering of 35,900,000 shares of common stock at $17.00 per share. [11]
The Scotts Miracle-Gro Company is an American multinational corporation headquartered in Marysville, Ohio, where O.M. Scott began selling lawn seed in 1868. [2] The company manufactures and sells consumer lawn, garden and pest control products, as well as soilless indoor gardening equipment. [3]
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The Scotts Miracle-Gro Company retained a 30% stake in the company after the merger, with the option to buy the operations back in the future from TruGreen. In 2019, Scotts Miracle-Gro sold its 30% minority stake in TruGreen for approximately $234 million.
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