Clearlake Capital Group assumes majority ownership. MSO receives $200 million new capital injection, reduces net indebtedness by over $500 million.
Service King today announced its entry into a comprehensive agreement with key financial stakeholders that will provide the Company with new capital, reduce debt, extend remaining existing debt maturities, and position Service King to increase reinvestment for long term growth.
Service King operates 335 locations in 24 states and the District of Columbia.
The agreement is supported by substantially all of the Company’s bondholders, holders of 100% of its outstanding first-lien revolving debt and at least 74% of its outstanding
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