American Home Shield announces plans to acquire HSA Home Warranty
Move demonstrates commitment to growth, market expansion
Public Company Information:
American Home Shield, the largest home warranty company in the nation, today announced it has entered into an agreement to acquire HSA Home Warranty, a leading competitor in the industry. Company officials say they expect the sale to close within the next 30 to 60 days and to create important expansion opportunities for both brands.
“We believe HSA Home Warranty uniquely compliments our business and will help accelerate our pace of growth in strategic markets,” said Mark Barry, president of American Home Shield, a business unit of The ServiceMaster Company, one of the world’s largest residential and commercial service networks. “Like us, HSA Home Warranty is known for providing reliable, quality service to its customers, and for building strong relationships in the real estate community. We look forward to positioning both companies to deliver even more value to homeowners across the country as a result of this acquisition.”
Once the transaction is complete, Barry said he expects HSA Home Warranty to essentially operate as an independent brand, much as it does today. Bob Lehmann, president and founder of HSA Home Warranty, will report to Barry and continue to lead the company from its headquarters in Madison, Wisc., where it employs approximately 200 people and serves more than 125,000 customers.
“The HSA Home Warranty team has built a strong legacy in this industry, and I’m excited about the opportunities we believe this acquisition will bring to our business, our customers, and our real estate clients,” said Lehmann. “I am proud of where we are today, and we are delivering on our commitment to position our company for continued growth.”
About American Home Shield
American Home Shield founded the home warranty industry in 1971 and remains the industry leader, servicing more than 1.3 million customers across 49 states. In addition to its core focus on home protection plans, the company also issues and administers preventive maintenance contracts on major home systems and appliances in 48 states across the country. The Memphis-based company operates three customer service centers, employs approximately 1,600 employees and has a national contractor network made up of more than 10,000 independent home-service contractors, which includes more than 40,000 technicians. American Home Shield is a business unit of The ServiceMaster Company, one of the world's largest residential and commercial service networks.
With a global network of more than 7,300 company-owned, franchise and licensed locations, Memphis-based ServiceMaster is one of the world’s largest residential and commercial service networks. The company’s high-profile brands are Terminix, TruGreen, American Home Shield, ServiceMaster Clean, Merry Maids, Furniture Medic and AmeriSpec. Through approximately 20,000 corporate associates and a franchise network that independently employs an estimated 31,000 additional people, the ServiceMaster family of brands provided services and products to approximately 8 million customers during the last 12 months. The company’s market-leading brands provide a range of residential and commercial services including termite and pest control; lawn, tree and shrub care; home warranties and preventative maintenance contracts; furniture repair; home inspections; home cleaning; janitorial services; and disaster restoration. Go to www.servicemaster.com for more information about ServiceMaster or follow the company at twitter.com/ServiceMaster or facebook.com/TheServiceMasterCo.