Client Spotlight

wades
Doug and Becky Wade

Owners, American Pest Control of Montgomery County

“One idea can be worth hundreds of thousands of dollars. To me it’s kind of a no-brainer to work with PCO Bookkeepers”

Business Background

COMPANY
American Pest Control of Montgomery County

HEADQUARTERS
Rockville, Md

OWNERS
Doug and Becky Wade

FOUNDED
1959

SOLD TO
Rentokil Steritech

TRANSACTION DATE
2018

Best possible outcome

Doug Wade started his pest control career over 40 years ago, working initially for a nationwide pest control company and later a smaller operator. He purchased the latter business in 1994 and it became American Pest Control of Montgomery County, which he co-owns with his wife, Becky.

Over time, their children, Brian and Deana, joined the family business and helped their parents build APC into a thriving company operating from Gaithersburg to Bethesda, Md., and in the Washington D.C. metro area.

The decision to sell

Early in 2017, Doug and Becky began formulating a plan for their retirement. To retire comfortably would require them to sell APC to a third-party buyer. Doug and Becky had been approached in the past by several suitors but had never sold a business before. With Brian’s and Deana’s assistance, the family made a concerted effort to find an experienced business broker that could structure the best deal possible to achieve the retirement funding needs. The settled on PCO M&A Specialists. They also sought to find a qualified buyer that would continue in their tradition of delivering great service and have a culture like their own and provide their valued employees security and greater career growth opportunities.

The sale

The PCO M&A Specialists team worked closely with the family members to develop a suitable plan, an appropriate range of values, gather and produce the financial and operational information to properly market the company for sale, and ultimately structure and conclude a deal with the right buyer. In the end, Doug and Becky were able to achieve their goal and can now look towards a more comfortable retirement. Additionally, Brian, Deana and the other APC employees have a bright future ahead becoming new employees of the buyer.

The experience

The Wades were pleased with the efforts and results of the PCO M&A Specialists team. They realized what a daunting task it would have been to go it alone.

“We believe that we achieved the best possible outcome for the entire family and our employees,” the Wades say. “The PCO M&A team have very broad and deep experience in valuations, taxes, accounting, contracts, pest management service software and everything else we needed and found out going through the sale process, which is much more complicated than we ever imagined. They were worth every penny!”

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