Emergent Pest Control Company Provides Further Momentum in Residential Services Market
The Potomac Company is pleased to announce that Terminix®, the leading provider of termite and pest control services in the United States, has acquired the assets of its client Alterra Pest Control. Founded in 2012, Alterra is one of the 15 largest pest control companies in the U.S. Led by entrepreneur David Royce, the company has been consistently recognized for its success by pest control industry thought leaders and media. Alterra reported $45 million in revenue in 2014 and was generating revenue greater than $70 million at the time of the transaction.
“By adding Alterra’s customers and employees to Terminix, we build on our already strong presences in the residential pest market,” said Bill Derwin, president of Terminix, a unit of ServiceMaster (NYSE: SERV). “This acquisition is a perfect complement to our existing business and enables us to leverage our technical expertise, marketing strength and systems to bring value to our new customers and ServiceMaster shareholders.”
“It was an easy decision to sell to Terminix,” said David Royce. “We built this company with core values based on exceptional customer service, environmental responsibility and above all, a positive team mentality. We were only interested in finding a company that met these high standards and made commitments to develop our employees and meet the expectations of our customers.”
The company will continue to operate under the name “Alterra” and comes with more than 400 full-time employees in 22 branches across 15 states.
This acquisition continues the Terminix growth strategy of organic growth, new services and acquisitions. In the past twelve months Terminix has also acquired other well-known pest, termite and wildlife control companies in North America, including Ace Pest Control, Atlanta Pest Control, Bug Busters, Cabot Pest Control, Capelouto Termite and Pest Control, and Excel Pest Control.
The Potomac Company acted as exclusive financial advisor to Alterra Pest Control.
UPDATE: In May 2016, Forbes Magazine reported on the transaction here.
