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The Lupini Family

Owners, Loyal Termite & Pest

“An M&A Transaction that Maximized Value”

Business Background

COMPANY
Loyal Termite & Pest

HEADQUARTERS
Richmond, Va

OWNERS
The Lupiny Family

SIZE
70 employees

SOLD TO
Rentokil Steritech

TRANSACTION DATE
2019

A multi generational deal

For over 50 years, Joe Lupini has been an industry leader serving the Virginia Pest Management
Association as a past president, as well as serving on several National Pest Management
Association committees throughout his career.

Since 1996, Joe and his family have built Loyal Termite & Pest Control into the largest
independent pest management firm in the Richmond, Va., area, employing more than 50
people. At his side along the way have been his wife, Peggy, responsible for the finances;
daughter, Kim responsible for office administration; and son, Nick, and daughter-in-law, Gena,
responsible for operations and sales management.

Dedicated to industry leadership and receiving industry accolades for their dedication, both
Nick and Gena also have served as presidents of VPMA and as members of state and national
association committees.

The decision to sell

Joe and Peggy were at a crossroads, looking toward retirement. They understood the current
pest control company valuations were compelling and wouldn’t last forever, but they also knew
Nick and Gena wanted to continue working in the business for several more years.
Knowing how to grow and operate a pest management company was in the Lupini family’s
DNA, the tasks of finding a buyer, negotiating a deal at maximum after-tax value, advocating for
them at due diligence and minimizing their legal exposure in the context of a sale was foreign
territory.

Seeking guidance, Peggy reached out to her accountant, Dan Gordon, managing director of PCO
M&A Specialists (a division of PCO Bookkeepers). Having known Dan for many years, the Lupinis
were confident Dan’s team had the expertise needed to develop a game plan to find a suitable
buyer and negotiate a deal to a successful conclusion.

The sale

The PCO M&A Specialists team worked closely with the family members to develop a plan,
gather and produce the information needed to market the company for sale, find the right
buyer and structure a deal that ultimately exceeded their expectations.
According to the Lupinis, the deal with Rentokil was brought to a smooth conclusion,
maximized their after-tax proceeds and exceeded their expectations in all aspects, including
securing ongoing management positions for Nick and Gena with the buyer, ensuring the legacy
of Loyal Termite & Pest Control’s quality customer care would continue.

The experience

“We are so fortunate that we had Dan and the rest of the PCO M&A Specialists team to look
after our interests, find us the right deal and negotiate and structure it for maximum after-tax
dollars,” the Lupini family says. “When the time came for selling, we knew their team of MBAs
and CPAs would get us the best deal on all important aspects to our family. PCO M&A
Specialists also did an outstanding job coordinating all the moving parts leading up to the
consummation of the transaction. The PCO M&A Specialists team did everything they said they
would do for us, always looking out for our best interests. We highly recommend this team of
experts to any owner who’s contemplating the sale of their pest management business.”

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