The announcement was made by Victor Hammel, Ehrlich President and CEO of Rentokil Pest Control North America and Presto-X Co-Owners Ward Combs, II, president and Jerry Keown, vice president.
The settlement is expected on Aug. 31, 2007, after which time Presto-X will continue using the Presto-X brand. Presto-X’s 2007 revenues are expected to exceed $30.0 million.
With a 17-state service territory in the Midwest, the addition of Presto-X provides Rentokil Pest Control North America with significant geographic growth and increases the company’s revenues by 20 percent. Founded in 1932 by Ward Combs, sr., Presto-X focuses exclusively on the commercial pest control market, specializing in food processing and other regulated industries. The company employs 300 coworkers operating from 21 service centers and was ranked #25 in the Pest Control Technology (PCT) Top 100 list.
All Presto-X coworkers will be retained and will continue to operate as they have been. “We are absolutely delighted to make this announcement,” Hammel said. “Presto-X is an extremely well-run organization with a deep and competent management team. They are truly one of the pillars of the US pest control industry with leaders who have been active at all levels in the National Pest Management Association.”
Ward Combs was previously president of the National Pest Management Association, while Jerry Keown was a long-time chairman of the Government Affairs Committee of NPMA and was recently honored for his service in that capacity. Presto-X has also been instrumental in the growth and support of Copesan over many decades
Combs agrees that this is a great opportunity for both firms. “The close relationship we’ve had with many people at Ehrlich over the years makes this a great next chapter for Presto-X,” he said. “While our cultures and values are very similar, I know we will learn a lot from each other. Combining our resources with Ehrlich and Rentokil gives all of us the opportunity to compete in larger markets that we would not have attempted on our own.”
Keown added, “Presto-X and Ehrlich Pest Control have a very similar business philosophy that focuses on our clients Being part of a global organization such as this will truly open new doors for us and in particular our associates. It was extremely important to us that their future was secure. Ward and I have worked closely with the Ehrlich Pest Control organization over the years. We are truly excited about the opportunity we have to combine these two well-respected organizations and learn from one another.”