DENVER, N.C. — Rentokil Steritech acquired Innovative Pest Management, a privately-held pest control business that services the Lake Norman area, north of Charlotte, N.C. The acquisition occurred in 2017 but was just announced by The Potomac Company.
Innovative Pest Management was founded by Ronnie and Rhonda Caldwell in 1999, and the company had grown to employ a staff of 20, focusing on the affluent residential market in the Lake Norman area.
Innovative Pest Management also grabbed headlines in 2010 when it unveiled an 11,000-pound, to-scale stainless steel sculpture of a widow spider that was created by local artist Dave Simpson (read related PCT article).
In commenting on the transaction, Ronnie Caldwell noted, “Finding someone that would actually deliver on their promises was a huge concern. Payment being one of those, but making things better for our employees was a major concern. People make the difference and we wanted to make sure that they had future opportunities. Rentokil offered those opportunities to our staff and has delivered on its commitments. We appreciate Rentokil’s professionalism throughout the entire transaction.”
The Potomac Company acted as Innovative Pest Management’s exclusive financial advisor.