Scotts Completes Acquisition of Action Pest Control

MARYSVILLE, Ohio — The Scotts Miracle-Gro Company announced that its Scotts LawnService business has acquired the assets of Action Pest Control, Inc., one of the largest residential pest control providers in the Midwestern U.S. (In October, Scotts Miracle-Gro announced that its subsidiary EG Systems, Inc., doing business as Scotts LawnService, had signed a definitive agreement to acquire the assets of Action.)

"We are excited to complete the acquisition of Action Pest and see it as an important step forward in executing our long-term growth strategy," said Jim Gimeson, president of Scotts LawnService. "We welcome the Action Pest team into the Scotts family."

Kevin Pass, former president and owner of Action Pest said, "Scotts LawnService is an excellent cultural fit and offers an extraordinary opportunity for our pest management professionals as Scotts enters this exciting new venture."

Scotts LawnService, with anticipated sales of approximately $260 million in fiscal 2014, is currently the No. 2 player in lawn service. Given the fragmented nature of the $7 billion home pest control category, the company believes it can complement organic growth in lawn service by consistently expanding its pest control platform.

Action Pest provides a comprehensive range of residential and commercial pest control services to homeowners and businesses throughout Indiana, Kentucky, and Illinois. As previously announced, the company expects the Action Pest business to add annual sales approaching $15 million and for the transaction to be earnings accretive in fiscal 2015.

Terms of the deal are not being disclosed. Tullius Partners served as Action Pest's financial advisor for this transaction.

Source: Globe Newswire