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”.
Paul Giannamore of The Potomac Company represented and acted as exclusive financial advisor to Modern Pest Services.
The Modern Pest Services transaction follows the July 5 announcement that the AntiCimex Group had acquired New Jersey-based Viking Pest Control, number 28 on PCT ’s Top 100 list. Terms of the deal were not announced.
Viking was founded in 1980 by Ed and Eileen Bradbury. Their tireless commitment to grow their family business led Viking to become a leading provider of residential and commercial pest control in New Jersey and a number of other states in the region, including Pennsylvania, New York, Delaware, and Maryland. Ryan and Dan Bradbury, both members of the founding family, will remain with the company as president and vice president respectively. Ed Bradbury will remain on as a consultant. Viking will continue to operate under its current brand as part of the Anticimex Group.
In announcing the acquisition, Dahlfors said, “We identified Viking early on as a premier, high-quality company with a stellar reputation in the industry and outstanding track record of growth. Viking has developed a strong, dynamic and visionary leadership team. I look forward to working together with Ryan and the team to realize the full potential of Viking and seeing it prosper as part of Anticimex. The acquisition of Viking represents a major step in our ambition to build a strong operation in the Northeast and Mid-Atlantic regions of the U.S.”
Viking Pest Control President Ryan Bradbury said, “The sale of our family business is a decision that affects every branch in your family tree, including our employees that really are an integral part of our family, and we did not take it lightly. The opportunity that Anticimex provided us was truly unique and came at the right time. We know Viking will still feel like home for everyone here because Anticimex clearly recognizes the exceptional value of our company and our employees. We look forward to working hand in hand with the Anticimex team to grow Viking going forward, and we feel very confident that the future will be promising and beneficial for both our loyal customers and employees.”