Rentokil Acquires D’s Pest Control:
Lubbock, Texas-based D’s Pest Control was founded as a part-time venture by Brian Duncan’s father, Robert, out of their family home more than 30 years ago. Brian was the first full-time employee of the company after he graduated from Texas Tech in 1990.
He eventually took over the firm from his dad, and it has grown into 22-employee company, including Brian and his wife, Donna, who joined the business in 1995.
The decision to sell
The Duncans have been tossing around the idea of selling their business for the past five years or so, Brian says. Selling became an increasingly attractive proposition as they realized their children aren’t interested in taking over the company, their business has grown in value and they were ready to reduce the stress associated with owning a business.
Their first step was to make a five-year plan to sell the company, beginning with hiring PCO Bookkeepers as their accounting firm to ensure their financials were in order.
This past spring, even though they were only in year three of their five-year plan, the Duncans asked PCO Bookkeepers’ Dan Gordon if it would be the right time to sell.
“He said ‘most certainly,’” Brian says. “We started visiting what kind of dollar figure it would be, and the number he gave us was pleasantly surprising, so we decided to start the process.”
Like many pest management professionals, Brian was aware that he’d only go through the selling process once, and he wanted to get it right.
Enter PCO M&A Specialists, a sister company to PCO Bookkeepers.
The process included pulling three years of financial and operational information and assembling a sales book. “Dan made it very easy,” Brian says.
PCO M&A Specialists took D’s Pest Control to market in July and within 15 days had several offers. The sale to Rentokil closed on Nov. 1. The Duncans opted for Rentokil’s offer over others because it felt “compatible to our family-style of small business, even though they’re a huge company,” Brian says. Brian and Donna will continue running the business with all of their employees, and D’s Pest Control will keep its branding for the foreseeable future.
“Pretty much everything stays the same, but we’re benefiting as far as more benefits, HR and support,” Brian says. “My job responsibilities have decreased, and I’m sleeping better at night.”
Assistance with the due diligence process – which can be a grueling several days of meetings – is just one perk of working with PCO M&A Specialists.
“Dan and Doug Corrigan were there and assisted us, which was really great,” Brian says. “They answered all of the financial questions and we just had to answer the personal and HR questions about the business.”
As a self-proclaimed “mom-and-pop shop,” Brian acknowledges he was in unfamiliar territory when it came to selling his business.
“There were a lot of things we didn’t know,” Brian says. “The way Dan and PCO M&A Specialists guided us through the process made it very easy.”
When the LEADERS of the Pest Management Industry Decide to Sell Their Businesses, They Choose the LEADERS of the Pest Management Merger and Acquisition Business to Help Them Sell their Businesses for Maximum after Tax Dollars.
We are fortunate that we had the PCO M&A Specialists team to look after our interests, find the right deal, negotiate and structure it for maximum after-tax dollars. They 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.
When the time came to sell, we knew that Dan Gordon, CPA, his attorney partner, John Corrigan, and their team of MBAs and CPAs would get us the best deal on all
aspects important 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.
Selling a long time established family business is a huge and very emotional decision. Dan and John helped us make the decision to sell, and did a great job getting us the best offer while making sure that we minimized the tax bite. I can’t say enough about how they navigated the valuation and the tax and legal minefields in getting our deal done!
The PCO M&A Specialists team worked very closely with me to help me achieve my primary goals. Dan, John, and the entire PCO M&A Specialists team are seasoned professionals, and their expertise in the finances and unique legalities of the pest control industry resulted in a deal that went smoothly and achieved an outcome that exceeded my expectations.
The PCO M&A Specialists team are CPAs, Analysts, MBAs and a transactional attorney ready to help. Their skill set includes determining value, marketing sellers to many buyers who have significant cash, are ready to buy, and who they have great relationships with. It’s a very powerful combination of talent that puts a seller in the driver seat.
Their expertise is far reaching and multidimensional. They don’t just broker the deal, collect a commission and leave you to your own accountant or attorney who may not be familiar with how pest industry deals get done. They are a team of seasoned professionals who are ready to help.
Based on my own experience I think PCO M&A Specialists, not unlike my New Mexico applicator’s license, are #1 in delivering on their service promise. They’ve assembled an outstanding team of professionals that help clients interested in selling their businesses achieve maximum value.
I count my blessings for having been able to work with and come to rely upon such an experienced business brokerage team as PCO M&A Specialists. They did everything they said they would do with great precision and were always looking out for the best interests of my wife and me. It doesn’t get any better than that!
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