Patrick McKittrick. PHOTO: PESTROUTES
McKinney, Texas-based PestRoutes has partnered with Gryphon Investors, a San Francisco, Calif.-based middle-market private equity firm, which has made a majority investment in the software provider for pest control companies.
Existing financial sponsor Mainsail Partners will retain a minority stake, as will PestRoutes co-founder Jared Green. The current executive team, led by CEO Patrick McKittrick, will continue to manage the business.
“With the backing of both Gryphon Investors and Mainsail Partners, as well as our founder Jared Green, we are well positioned to continue to be the destination platform for pest control companies in the years to come,” McKittrick said.
Founded in 2012, PestRoutes provides business management software and, through its Lobster Marketing brand, integrated marketing solutions to pest control, lawn care, pool servicing and other field service industries. The company serves more than 1,500 residential and commercial pest control and field service companies, automating all aspects of their operations, including route optimization, real-time technician tracking, customer communications, scheduling and billing.
“We have enjoyed rapid growth under our partnership with Mainsail, and we are now excited to work with Gryphon as we pursue further expansion of functionality to our existing customers and markets, as well as products serving new industries within field services,” McKittrick said. “Gryphon’s added financial and operational resources will allow us to more easily scale our operations rapidly and efficiently, ultimately improving the already high-quality experience that our customers have come to associate with PestRoutes.”
As part of the transaction, three Gryphon executives will join the PestRoutes board of directors, including: Nick Orum, president and co-head of the software group; Carl Theobald, software operating partner; and Jon Cheek, deal principal in the software group. These three join Mainsail Partner Jason Payne, who remains on the board.
“PestRoutes serves a number of large and growing field services markets with complex software needs that are not being met by existing solutions,” Cheek said. “PestRoutes not only addresses the complicated requirements of field services companies of all sizes, but it does so through the use of modern, easy-to-use software complemented by high-quality customer service, which together provide tremendous value and a superior customer experience.”
Arbor Advisors was the financial advisor to PestRoutes. Kirkland & Ellis acted as legal advisor to Gryphon, and Goodwin Procter acted as legal advisor to PestRoutes. Terms of the deal were not disclosed.
“Companies are searching for a partner who listens to their feedback, takes care of customers and never ceases to invest in its product, and we plan to continue to be at the forefront when it comes to those things in the pest control industry,” McKittrick said.
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