Thompson Street Capital Partners, a private equity firm in St. Louis, Mo., announced its portfolio company PestCo Holdings acquired Presto Pest Control.
PestCo Holdings is an acquisition company formed to consolidate the “highly fragmented pest control industry,” according to a news release. Telford, Pa.-based Presto Pest Control was founded in 1999 and is a provider of commercial pest control services in the middle Atlantic with a focus on serving the restaurant industry.
Presto Pest Control is PestCo Holding’s first acquisition. The terms of the transaction were not disclosed.
“Presto is an ideal starting point for our consolidation efforts at PestCo.,” Jay Keating, CEO of PestCo, said. “Ken Fox has built a high-quality organization over many years with a concentrated footprint in attractive markets in the middle Atlantic. We are excited to partner with Presto’s employees to help accelerate Presto’s growth.”
Ken Fox, founder of Presto Pest Control, added, “Presto has taken great pride in consistently delivering aggressive service coupled with a personalized approach from our technicians and people in the office. This business model has resulted in consistent organic growth along with phenomenal customer retention. We chose to partner with TSCP because of their demonstrated ability to take Presto to the next level by their commitment to maximizing growth opportunities and cultivating synergistic deals yet maintaining the culture of Presto Pest Control. The future has never looked brighter for Presto’s customers and employees.”
Thompson Street Capital Partner’s investment in PestCo Holdings is led by Managing Director Jeff Aiello.
“We are excited to partner with the Presto team and to help provide Presto with additional resources to help the company enhance its already excellent service offerings,” Aiello said. “Presto is a terrific foundation for our much larger thesis in the pest control space. We thank Ken Fox for trusting us with the next phase of Presto’s growth.”
Presto was advised by Paul Giannamore, managing director at The Potomac Company.
About the Author
Ellen Wagner is the digital editor for PMP magazine. She can be reached at ewagner@northcoastmedia.net.
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