When ServiceMaster Global Holdings (SERV) announced its intent to spin-off its American Home Shield unit ("AHS"), and the simultaneous hiring of Nik Varty as CEO, a series of operational and leadership changes began that have since transformed company. Now two years later we can begin to assess what these developments have meant for the residential and commercial termite, pest control, cleaning, and restoration services company.
In short, the company's moves have made it a faster growing, more efficient cash generating operation which is now well positioned to drive increasing free cash flow by