Anticimex Group announced today another significant U.S. acquisition in Brunswick, Maine-based Modern Pest Services, a $17.1 million firm that ranked #46 on PCT’s Top 100 list. Terms of the deal were not announced.
Modern Pest Services was founded in 1945 by Howard Stevenson and the company has shown impressive growth throughout the years under the Stevenson family ownership. The company provides pest control and wildlife 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. Also included in the Modern Pest Services ownership is Rich Stevenson (Chief Operations Officer) and Doug Stevenson (Chief Financial Officer).
Commenting on the transaction, the Stevenson brothers said: “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.”
Anticimex Group CEO and President Jarl Dahlfors said of today’s development, “The acquisition of Modern Pest represents another important step in 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 Modern Pest Services 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.
Paul Giannamore of The Potomac Company represented and acted as exclusive financial advisor to Modern Pest Services.