(Pictured: D.R. Sapp, president and CEO of Florida Pest Control)
READING, Pa. — Rentokil Steritech announced the acquisition of Florida Pest Control, a Gainesville,Fla.-based firm that ranked #16 on the most recent PCT Top list, with annual revenues of $67 million. The acquisition was completed on Nov. 1, 2019.
The acquisition significantly expands Rentokil Steritech's service footprint in the state of Florida, where the company already operates from 13 service centers.
Founded in 1949 by Dempsey Sapp Sr., Florida Pest Control has grown steadily under the leadership of his son, D.R. Sapp. The company employs 600 people, servicing central and northern Florida (including Orlando, Tampa, and Jacksonville).
"Companies are a reflection of their leadership. From the first time we met with him, it was very apparent that D.R. and his family have built an impressive company, one that truly cares about its customers and its employees," said John Myers, president and CEO of Rentokil North America, the parent company of Rentokil Steritech. "This same genuine care is reflected throughout the organization. Through his relationship with our Chairman Emeritus, Vic Hammel, we are extremely proud that DR considered and selected Rentokil Steritech when it was time to sell his company."
D.R. Sapp added, "I knew I had to find a company to sell to that would take the best care of our 600 co-workers, that offered good benefits and advancement opportunities. Rentokil was the ideal fit and will make a wonderful partner for our customers and colleagues."
Rentokil continues to build its presence in the Southeast. Other Rentokil acquisition in the region includes Oliver Exterminating, Allgood, Active, Heron, Johnson and Russell Pest Control.
"This acquisition is very much in line with our strategy to acquire pest control businesses that build customer density and add to our scale in key local markets, and will make a strong contribution towards our North American revenue and margin targets," Andy Ransom, CEO of Rentokil Initial, said in a news release.
LR Tullius represented and acted as financial advisor to Florida Pest Control on the transaction