Rentokil acquires Innovative Pest

By |  July 16, 2018
Innovative Pest Management

PHOTO: THE POTOMAC CO.

Rentokil Steritech has acquired Innovative Pest Management, Denver, N.C. The deal was facilitated by The Potomac Co., and terms were not disclosed. Innovative was founded by Ronnie and Rhonda Caldwell in 1999. The transaction actually closed in 2017, but the announcement was delayed at the request of the owners to ensure a smooth transition. The company, north of Charlotte, is branded today as “Innovative Pest Management Inc., an Ehrlich Company.”

“Finding someone that would actually deliver on their promises was a huge concern,” the Caldwells said in a statement. “Payment being one of those, but making things better for our employees was a major concern. People make the difference, and we wanted to make sure that they had future opportunities. Rentokil offered those opportunities to our staff and has delivered on its commitments. We appreciate Rentokil’s professionalism throughout the entire transaction.”

“The Caldwells have built a great business, and it was a perfect entry acquisition for Rentokil into the North Carolina marketplace,” says Paul Giannamore, managing director of Potomac. “Like many sellers today, Ronnie and Rhonda built a great business at a young age and will be able to invest those proceeds into a new chapter of their lives. I am excited to see what’s next for them.”

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