As Elaine once famously quipped on Seinfeld’s The Contest: “… and then there were three.” Similarly, there are now three major players in the Singapore pest control industry and transaction multiples are on the rise.
Rentokil has been in Singapore for years (the dominant player), Anticimex took the plunge in late 2015 / early 2016, and now the new kid on the block is Rollins, the parent company of Orkin.
On July 2nd, Rollins acquired the stock of the third largest pest control business in Singapore, Aardwolf Pestkare.
Established in 1997, Aardwolf Pestkare is a long established pest control company with a history of providing superior pest control and specialty services to residential and commercial customers. Founders John Ho and Patrick Chongsaid, “It has taken three years for us to find a company that shares the same business philosophy as we do. We are proud to be working with Rollins.” Patrick Chong will stay on with the company as Managing Director.
Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins stated, “The Aardwolf Pestkare acquisition is an important milestone and expands our global presence into 54 countries worldwide. Both Rollins, Inc. and Aardwolf Pestkare share a commitment to quality service and care for our employees. Further, we are pleased that Patrick will remain in a leadership role and look forward to sharing best practices between our organizations.”
Multiples in Singapore at an All-Time High
With Rentokil, Anticimex and now Rollins looking to increase capabilities and density in Singapore, transaction multiples for pest control businesses are at an all-time high.
If you own a pest control business in Singapore and surrounding countries, we’d be happy to have a conversation with you. Reach out to us here.