MEMPHIS — ServiceMaster announced today that it will acquire Assured Environments, a $31 million firm based in New York City that ranked 25th on this year’s PCT Top 100. The announcement was sent out in a press release prior to today's ServiceMaster 2018 Investor Day meeting.
Assured Environments is primarily a commercial pest control company specializing in servicing property management, hospitality, retail, education and food processing facilities. Assured provides pest control services to many of New York’s best-known buildings, including Rockefeller Center, Madison Square Garden, and the 9/11 Memorial Museum.
Assured Environments is led by Andrew Klein, who has served as the company’s president since 1994, when the company was known as Allied Exterminating.
“Andrew Klein and the Assured team have an incredible reputation for exceptional customer experiences in one of the key urban markets in the world,” Chief Executive Officer Nik Varty said in the press release. “This acquisition is well-aligned with our growth strategy, and we are excited about the potential to leverage this great team and their capabilities as we look to accelerate our expansion into exciting urban markets.”
As part of Varty's Investor Day presentation, he noted that Terminix's profile was very strong in suburban and rural markets, but that "one of the areas that was a huge untapped opportunity for us was the urban market space. It just makes the perfect right sense to bring in the leading provider [Assured Environments] in a tough, challenging market."
Founded in 1934, Assured Environments has built a culture of excellent customer service and employee satisfaction. The acquisition brings more than 200 full-time employees and marquee clients into the Terminix portfolio. Assured Environments will continue to operate as a separate company and as a Copesan partner, servicing national accounts in the New York area.
Klein also spoke as part of ServiceMaster’s Investor Day conference. He reflected on his lifelong involvement in the pest control industry as a third-generation PCO, noting that he began to view the pest control industry differently after Assured Environments became a Copesan Partner in 2004. “I realized that there was an entire universe of other opportunities out there in the country that we were missing,” he said. Klein said that as part of his “Copesan transformative journey” he met with Terminix and was impressed with the potential growth opportunities for he and his team. “I realized that Terminix wanted us not because of our revenue and customer base — although that was attractive. They wanted [Assured] for me and my team — and for what we could do for their team nationally and perhaps internationally.”
Check back with PCT Online as we will have additional coverage of this industry development.
ABOUT ASSURED ENVIRONMENTS
Year founded: 1934
Service area: Greater New York City and New Jersey
Yearly Revenues: $31 million (2017, source PCT Top 100)
Key personnel: Andrew Klein, president; Marc Popkin, senior vice president, finance; Andrew Feldstein, vice president of operations; Blake Bissonnette, CFO; Jerry Quinlan, technical director; Michael Bohan, sales manager
About: In 1934, Daniel J. Klein founded Allied Exterminating as a company focused on providing quality pest control to a variety of commercial accounts and high-rise residential buildings, which are still key sectors in Assured’s business model. In 1964, his son, Bob Klein, joined the company full time, and the pair grew Allied into one of New York City’s biggest and most highly regarded companies. The company experienced significant growth in the 1990s via M&A, including the acquisition of Ogden Allied Corporation’s pest control division, Pioneer Exterminating. Andrew Klein joined the company full time in 1989 and became president in 1994. Andrew Klein spearheaded efforts to rebrand the company as Assured Environments to better reflect the that the company as an IPM service provider.