The Potomac Company is pleased to announce the acquisition of its client, Modern Pest Services, by Anticimex.
Modern Pest Services, a family owned pest control company founded in 1945 is based in Brunswick, Maine. Modern Pest is the independent market leader in the New England market and provides high quality pest control and wildelife services to residential and commercial customers in Maine, New Hampshire, Vermont, Rhode Island and Massachusetts.
Former Co-President Scott Stevenson will remain with the company and assume the role of President of the company and Modern Pest will continue to operate under its current brand as part of Anticimex Group.
With over 150 employees and generating more than $17 million in revenue, Modern is the largest privately-held pest control business in New England, operating in five states:
The transaction follows on Anticimex’s acquisition of Viking Pest Control announced on July 5th and forms part of Anticimex’s strategy to expand in the Northeast and the Mid-Atlantic region via organic growth and by partnering with strong regional and local players.
Commenting on today’s announcement, Anticmex Group CEO and President Mr. Jarl Dahlfors said: “The acquisition of Modern Pest Control represents another important step on our strategy to expand in the Northeast and Mid-Atlantic region of the US. Modern Pest has a long and proud history as a leading provider of high quality pest control services. Together with Scott Stevenson and his team, we will continue to grow Modern Pest and particularly expand in the Boston Area”
The Stevenson brothers commented: “Candidly we didn’t think we’d do it. We met with several buyers, and we were pretty sure we wouldn’t find the right fit. We didn’t want to become just another branch of a national chain. But then we met with Anticimex and found their vision, core values and decentralized model the perfect fit for our team members and our culture. We’re proud to see the Modern brand live on and excited to join American Pest, Viking Pest Control, and Bug Doctor on Anticimex’s quest to become a leader in the U.S. pest control market. We’re also excited to see who will join the Anticimex team next.”
Paul Giannamore of The Potomac Company represented and acted as exclusive financial advisor to Modern Pest Services.