Sunair Stockholders Approve Financing Deal

A Memphis court on Friday temporarily barred David Slott (far right) and Donald Karnes (center) from becoming president and chief operating officer, respectively, of Sunair's pest-control services division because of noncompete agreements they signed with their former employer, ServiceMaster. The pair were executives with TruGreen, the lawn-care business of Illinois-based ServiceMaster, until they quit in November. The court, however, refused to prevent another ServiceMaster executive, John Hayes (far left), from becoming Sunair's chief executive. Hayes didn't sign a noncompete agreement.

FT. LAUDERDALE — The Miami Herald reported that Sunair is ready to enter the pest control market after shareholders approved on Friday a deal with an investment firm led by Richard C. Rochon and Mario B. Ferrari.

Sunair, which produces high-frequency radio equipment used by the Coast Guard and others, will use the investment proceeds to acquire small to regional pest-control companies. It will continue to operate its core electronics business. But now, the company will simply be known as Sunair.

The Herald reports that Sunair already is negotiating with a Florida company that has about $50 million in annual revenue, Rochon said.

On Jan. 28, a Memphis court temporarily barred David Slott and Donald Karnes from becoming president and chief operating officer, respectively, of Sunair's pest control services division because of noncompete agreements they signed with their former employer, ServiceMaster. (CLICK HERE to read that story.)

Source: Miami Herald