Owner, RK Environmental/Comprehensive Food Safety
“The unknown causes a little anxiety, so just be as familiar with the process as possible. Familiarize yourself with all the details of the process so you’re more comfortable with everything.”
RK Environmental/Comprehensive Food Safety
The ‘Perfect Fit’ for RKE/CFS
Sometimes people are prompted to sell their businesses for less than ideal reasons. That was the case for Hank Hirsch, founder and CEO of RK Environmental/Comprehensive Food Safety (RKE/CFS), based in Westwood, N.J.
The Decision to Sell
Hank opted to pursue the sale of his business last summer when his company president fell ill and passed away within several weeks.
“I didn’t want to run the business without him,” Hank said.
RKE/CFS was a long-time accounting and bookkeeping client of PCO Bookkeepers & M&A Specialists, so its books were in good shape and it was a convenient, natural transition for Hank to work with PCO on the sale.
“PCO has definitive experience in the M&A arena and understands what the M&A process entails, including all of the accounting aspects that I wouldn’t have been able to do without them,” Hank said.
His goals for the sale were to successfully transition both companies to a firm that had experience in both the pest management and food safety arenas. For that reason, and due to Hank’s prior conversations with Rentokil Terminix’s leadership, he was all but certain Rentokil was the right buyer for his business.
Regardless, the PCO team assembled all the requisite information any buyer would need.
“There’s no question that it was helpful to have that (accounting) partnership for all these years,” Hank said, noting he didn’t know what to expect from the sales process because he’d never experienced it before. “I couldn’t imagine doing it without a broker. I’m glad I had somebody representing me.”
The Experience and the sale
Ultimately, Rentokil Terminix was “the perfect fit,” Hank said. “Our aligned commitment to the food industry offering the highest level IPM services, food-safety consulting, auditing and training make us the clear industry leader,” he said in a news release.
After the negotiation, offer and letter of intent phase, PCO facilitated the due diligence process and provided the supporting data and information needed to complete the deal. The final step is integration. Hank will stay for at least a year to assist with the transition.
“RK Environmental/Comprehensive Food Safety has a rich and proud history of providing exceptional service to their clients,” said John Myers, president and CEO of U.S. Pest Control for Rentokil Terminix, in a news release. “I have had the good fortune of getting to know Hank Hirsch during the past five years, and the culture he fostered at RKE/CFS is a great fit with Rentokil Terminix. We are thrilled to expand our presence in their markets, and will work to continue their legacy of excellence.”