Proposed Pike Nurseries Settlement of Claim Against Private Equity Firm

From the Atlanta Journal-Constitution Read the original story here. Roark Capital Group would pay $3 million to the bankrupt former operator of Pike Nurseries, in a settlement aimed at putting to rest questions about whether Roark drained the company of capital after buying it in 2004. The proposed settlement, filed this week in U.S. Bankruptcy Court in Atlanta, is subject to approval by Pike Nursery Holding’s bankruptcy judge. A hearing is scheduled  Oct. 15, and parties to the case could still file objections. The settlement was filed by the trustee in the Chapter 7 case, Marcus A. Watson. If approved, … Read more

Sunair Files Form 8-K, Copy of Definitive Agreement

Sunair Services has filed a Form 8-K with the Securities and Exchange Commission n connection with its pending acquisition by Massey Services, Inc.  Here is a link to the Form 8-K.  Here’s a link to the  definitive Agreement and Plan of Merger included as an exhibit to the Form 8-K.

Massey to Purchase Sunair Services

At Closing, Respected Leader Vaults to New Level in the Pest Management and Lawn Services Industry ORLANDO, Fla.–(BUSINESS WIRE)–Harvey L. Massey, Chairman and CEO of Massey Services, Inc. is pleased to announce it has reached a definitive agreement to purchase Sunair Services Corporation (SNR-AMEX) including its subsidiary, Middleton Lawn & Pest Control, Inc. Massey Services is a privately held company. “The addition of Middleton’s employees and customer base in both the pest and lawn segments will move our company to a new level in our industry,” said Harvey Massey. “They’ve been an outstanding competitor over the years and have some … Read more

Altum Family to Sell Garden Center Property to a Developer

From Today’s Garden Center The Altum family is in talks to sell the garden center/landscape company’s 23 acres to a developer that had approached them to build a strip mall on the property. The property was not “on the market,” but the time was right to sell, says President Dana Altum. The garden center is located outside of Indianapolis. The developer wants to build a Kroger store, a gas station and more. The garden center only uses 8 acres, and the rest was purchased to expand its horticultural services in the future. Even then the company was left with too many unused acres that still … Read more

Sunair Announces Proposed Merger with Massey Services

DEERFIELD BEACH, Fla., Sept. 29 /PRNewswire-FirstCall/ — Sunair Services Corporation (AMEX: SNR) today announced that it has entered into a definitive merger agreement with Massey Services, Inc. pursuant to which Massey would acquire all of the outstanding common stock of Sunair in an all-cash transaction valued at $2.75 per share, which represents a premium of approximately 47% over the stock’s closing price on September 25, 2009. Massey’s operations would merge with Middleton Pest Control, Inc., a wholly owned subsidiary of Sunair with headquarters located in Orlando, Florida, which provides pest control and lawn care services to both residential and commercial … Read more