The ServiceMaster Company has temporarily delayed its separation and spin-off of its TruGreen business, according to the United States Securities and Exchange Commission.
Originally scheduled for Dec. 31, 2013, ServiceMaster had announced to separate with its TruGreen business.
However, ServiceMaster says it is committed to the separation, and it would be the best interest of all of its businesses.
The ServiceMaster Company announced preliminary unaudited third-quarter 2013 results, including operating revenue of $929 million, an increase of approximately 3 percent compared to the same period in 2012. The increase in revenue was primarily attributable to a strong performance at Terminix versus the prior year period and revenue stabilization at TruGreen.
The separation is subject to a number of important closing conditions, which once completed will result in TruGreen being an independent, private company.