Oliver Exterminating
Oliver Exterminating Acquired by Rentokil North America
November 1, 2015–Oliver Exterminating Group, based in Miami, Florida, and with operations in Florida, Arizona, Puerto Rico, and the Dominican Republic, was acquired by Rentokil North America on November 1, 2015. Oliver, with annual revenues over $30 million, was ranked number 24 in the PCT Top 100 in 2015.
The acquisition greatly expands Rentokil's footprint in Arizona and Florida and marks the company's entry into the Caribbean. Oliver has 16 offices, including four in Florida, five in Arizona, six in Puerto Rico, and one in the Dominican Republic, and employs 371 people.
Oliver had been owned by Olivier Grinda and his family since 1982. Grinda's minority partner was industry veteran Larry Weinberg, who retired in 2003. At that time, Bert Putterman, who had been with the business since 1989, took over as president and CEO. Putterman will continue to run the Oliver operation, and is currently spending significant time in Puerto Rico and the Dominican Republic. Also being retained is Putterman's long-tenured management team, including Doug Wyly (Arizona Exterminating), Nick Garcia (Guarantee Floridian), and Michael Holston (Oliver, Puerto Rico, and Dominican Republic).
Putterman commented on the transaction, "One of the things that happens in companies, is that unless you are growing dynamically, upward advancement becomes frozen. With Rentokil there is a ton of opportunities, so it provides a lot of talented people on the Oliver side with room to move."
Tullius represented and acted as exclusive financial advisor to Oliver Exterminating Group.
"It would have been impossible for us to have completed the sale of our business without the assistance of LR Tullius."
Donnie Blake	Former President, OPC Services
"Selling your business can be life changing and overwhelming. LR Tullius has the experience to navigate the process, make the right connections, and offer sound advice to bring about the best solution for you and your family."
Chuck Tindol	Former Shareholder, Allgood Pest Solutions
"It's been almost five years since I sold my business and as I reflect on that decision I continue to be impressed with the process, consideration and care Lance Tullius took in helping me. I don't have any regrets because Lance helped me consider everything from the valuation, the impact on my employees and the transition. I talk to peers in the industry today and Lance Tullius continues to be the leader in the M&A space because of his reputation and professionalism and proven track record."
Brent Boles	Former President, Schendel Pest Services
"Tullius provided excellent representation throughout the process of selling our company. We cannot imagine having gone through this process without them."
Grant Capelouto	Former Principal, Capelouto Termite & Pest Control
"To be honest with you, I did not envision the results could be as good as they were. But to your credit, everything you told us we could achieve with your help was realized and more…Beyond the obvious positives to the transaction (i.e. price, terms, employee opportunities), I want to comment on a subtler and less expected benefit that you and your team delivered. And I speak from the context of valuing closely held businesses for years before entering the pest management industry and having made several acquisitions myself in the past. The support, guidance, and attention to detail that Tullius provided throughout the process, specifically relating to the preparation phase, preparing a credible presentation deck, and conscientiously facilitating the due diligence process, was simply not a consideration when retaining you. The resources your team put forth in organizing this transaction went beyond the call and exceeded our expectations. Now with the benefit of hindsight, these attributes that you provided us were huge in closing this transaction, and in a manner that was not disruptive to our business."
Mark O'Hara	Former President, Anderson Pest Solutions
"I chose Lance Tullius to help advise me on the sale of my company. I had developed a long term relationship with Lance and we had discussed a potential sale for some years. When I was ready to move forward we had a strong relationship and there was no question in my mind that Lance was the right person to partner with. Lance knows the pest control industry and has incredible experience getting deals done. I'm very happy with the outcome. I feel like the entire process was handled highly professionally and Lance got me the outcome that I requested. Trust me when I say that selling your business is a stressful thing. Having a professional like Lance in your corner was essential."
Matt Nixon	Former President, American Pest
"Lance Tullius and his firm's involvement on our behalf was truly exceptional. Our family is in a better place now as a result of their work."
Jimmy Allgood	Former Principal, Allgood Services of Georgia
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Kevin & Mary Beth Kordek	Former Principals, A-Active Termite & Pest Control Company
"We relied heavily on LR Tullius due to their extensive industry specific knowledge and overall investment banking expertise. Selling your family business is time consuming, complex and emotional. Tullius effectively guided us through the acquisition process resulting in both a great price and smooth transition of ownership, that will benefit our employees and clients for many years to come."
JT Barnard	Former Principal, Anderson Pest Solutions
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Chuck Russell	President, Eradico Services, Inc.
"Because of the trust I have in Lance Tullius, the decision to partner with his firm to assist in selling Action Pest Control was an easy one for me."
Kevin Pass	Former President, Action Pest Control, Inc.
"Tullius did an excellent job facilitating all aspects of our transaction. It has been two years since our deal was completed and I'm very happy with the decision we made, and the role Tullius played in the process and outcome. They are the best of the best!"
Garry Tank	Former President, Buffalo Exterminating
"Selling your business is complex and comprehensive. Lance Tullius and his team paved the road for what became a very successful transaction. They guided us through every step with candid and sound counsel. I'm happy to say that in addition to having become a trusted confidante of mine, I'm happy to call Lance a friend as well."
Stuart Aust	President, Bug Doctor, Inc.
"Especially in today's market, selling your business can be a life changing event. Choosing a winning team to represent your company in this important event is key to receiving the best possible outcome. Lance and his team far exceeded my expectations by achieving a multiple that was 25% higher than my best expectation. It was a pleasure to work with Lance's high performance and attentive team throughout the entire process. I cannot recommend Tullius more highly."
Michael Botha	Former President, Sandwich Isle Pest Solutions.
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