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Enterprise Diversified sells Phoenix-based home services subsidiary

Enterprise Diversified Inc. sold its Phoenix-based home services unit, Specialty Contracting Group LLC.

The company, in exchange for a five-year royalty stream, provided the buyer with a certain set of assets. The buyer also took over other nonmaterial assets and liabilities.

Enterprise Diversified is expected to receive 7.5% of revenue generated from qualified sales in the first year and 5% of revenue between years two and five.