Potomac is pleased to announce the acquisition of its PCT Top 100 client, Elkton, Maryland-based Advanced Pest Management (APM) — $6.9 million in revenue — by Rentokil Steritech. The acquisition further expands Rentokil Steritech’s density in the Northeastern U.S. market. Terms of the deal were not disclosed.
Established in 1964 by the Kreer family, APM was sold to Jeremy and Nam Kreer, President and Regional Account Executive of APM respectively, in 2003. The business has built a long-standing reputation as a provider of outstanding customer service to homeowners and businesses from southern New Jersey through Delaware to Baltimore, Maryland.
The Company services four states through its six branch offices.
“The addition of APM’s local market leadership to our growing family of experts further enhances our ability to serve both residential and commercial customers in the Northeast,”said John Myers, President and CEO of Rentokil Steritech North America. “Jeremy and his team, share our high-level commitment to customer experience and world-class pest control services and we are excited to have them join our team.”
“At APM, our focus has always been on providing exceptional customer service, paired with the utmost integrity, in all our transactions, ” said Jeremy Kreer, President of APM. “We believe that joining the Rentokil Steritech family of companies will allow us to continue that tradition. We look forward to providing our customers with additional service offerings that help them further protect their homes and businesses, and contributing our expertise to continue growing the Rentokil Steritech range of services.”
Nam Kreer, APM executive and partner commented: “Prior to engaging Potomac, I had a lingering mistrust of brokers in our industry based on past experiences of colleagues as well as personal experiences on the buy side.
Potomac, and specifically Paul Giannamore, was selected because he earned my trust. Our 3-year journey began with my inherent skepticism and distrust of business brokers evolving into my literally trusting Paul with my family’s future with no qualms.
Paul was an unreplaceable part of our transaction. I have been in this industry over 30 years and have learned and followed some great professionals who have made significant contributions to the support and betterment of our livelihoods in Pest Management. I would rank Paul as one of the Top 3 who have made a lasting impression on me personally.
Paul is without a doubt the best in his field in our industry. Ours was certainly not the largest transaction for Paul or Potomac, however, we were treated like we were his only clients. Paul always had the best interest of me and my family in mind from start to close. Thank You Paul.”
For additional information on Rentokil Steritech and its family of regional pest control brands, along with Rentokil North America companies’ complementary business servicesin the United States, please visit www.rentokil-steritech.com.
Paul Giannamore of the The Potomac Company (www.PotomacPest.com) acted as the exclusive financial advisor to Advanced Pest Management.