ATLANTA — Rollins today announced that it has entered into a definitive purchase agreement to acquire The Industrial Fumigant Company, (IFC). The transaction is expected to close in October.
From its founding in 1937, IFC has been dedicated to pest management in the Food and Commodity Industries and has a proud legacy of service under the guidance of Don Wilbur and Jim Arnote. In 1996 the company was sold to its employees and has been owned by the IFC Employee Stock Ownership Plan since. Its concentration on a specific industry segment has led IFC to a position of leadership in matters of food plant pest management, auditing, and training. Since being acquired by its employees, IFC has increased its nationwide coverage to 25 offices and 17 warehouses. Based in Olathe, Kansas, IFC employs over 130 associates who have helped build an innovative culture, focused on bringing the latest proven technology available to the food industry. With revenues in excess of $26 million, the company is the 24th largest company in the pest control industry. You can learn more about IFC by visiting their web site at www.indfumco.com.
Gary W. Rollins, Chief Executive Officer of Rollins, Inc., said, "We are extremely pleased to announce this agreement with IFC which is consistent with our strategic plan to accelerate growth in commercial services. Under the leadership of Mike Newland, IFC has earned great loyalty from its customers and employees. Although they will continue to operate independently, we hope to learn a great deal from Mike and his team of experts."
Mike Newland, President and Chief Executive Officer of IFC, stated, "This announcement marks a great day for many people. Rollins, Inc. is adding another jewel to their crown as leaders in the pest management industry. Their business ethics, acumen and hard work have been admired by IFC's management for some time. IFC's greatest asset and resources has always been its people. The combination of IFC's employees and Rollins' resources will be very beneficial to the food industry. This partnership will be a win, win situation, for the employees, the customers, and the Company. IFC will be able to address its customer's needs on a much larger geographical scale and in areas beyond our core business."
Source: BusinessWire