Past NJPMA President and industry leader in the New Jersey Pest Management Market Dave Castro speaks about Selling his Pest Control Business
On October 1, 2017 Viking Pest/ Anticimex acquired Merlin’s Pest Control . PCO M&A Specialists acted as exclusive financial advisor to Merlin’s.For over 25 years Dave Castro has been an industry leader in the New Jersey Pest Market, building his firm Merlin’s Pest Control into one north Jersey’s most well-respected pest management companies while serving as an NJPMA president as well as holding several Board positions. Dave is truly one of the very well-liked good guys in the industry.
The Decision to Sell to Viking Pest/ Anticimex
When we caught up to Dave to get his thoughts on how he built his company and what went into the decision to sell his company, he told us that early in his career he watched his competition both large and small getting ideas on how he wanted his company to look and feel. He joined NJPMA and NPMA to meet the more well respect players in the industry so he could exchange great ideas, help the industry and improve his company. Once a participant he decided that he could either sit back and watch or he could get involved. And… Get involved he did. Becoming President and a long-time board member of NJPMA.
At age 61 he and his wife Annmarie, decided it was time to retire and enjoy their life and their new home in South Florida and let someone run the business who would care about their customers and employees. Dave knew that the current Pest Control Acquisition market was extremely hot but had no idea how to go about selling his pest control company for maximum value. If he tried to do it himself he realized that while he knew the pest management business he had no idea about how to go about valuing a pest business, how to structure a deal from a tax minimization prospective, and how to navigate the legal maze in consummating a deal that would give him maximum after-tax value and protect him legally.
According to Dave, having PCO M&A Specialists, a division of PCO Bookkeepers, represent him was really a “No brainer” as he recognized that the pool of talent needed to move forward and maximize the after-tax value of his company and protect him legally both during and after the transaction closed would include a broker, a transactional / tax attorney, a CPA, and an analyst preferably with an MBA. Led by CPA Dan Gordon and Attorney John P. Corrigan, PCO M&A Specialists employ professionals with expertise in each of these functional disciplines.
Seliing a Pest Control Business and Maximizing After-Tax Proceeds:
The PCO M&A Specialists team negotiated hard for Dave in getting a deal done with Viking / Anticimex . They got him a deal that exceeded his expectations and brought the deal to a very smooth conclusion, allowing him to get a high valuation and maximize his after-tax proceeds. Dave said it best “Getting a deal like this done can only go smooth with seasoned professionals like the PCO M&A Specialists team.”
Thanks Dave Castro and The Viking Anticimex Team, it was a pleasure working with you! – Daniel Gordon
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