Credit: PR Newswire
DALLAS and PROVO, Utah – Citation Capital, a private equity firm specializing in partnering with founder- and family-led businesses, announced the acquisition of a majority stake in Aptive Environmental. Vess Pearson, co-founder and CEO of Aptive, along with the leadership team, will retain significant interest in the company.
Founded in 2015, Aptive has become one of the largest residential pest control companies in North America, servicing more than half a million households, with a team of approximately 4,000 employees.
"We are thrilled to partner with Citation as we embark on this next chapter of growth for Aptive,” said Pearson. “Citation’s investment in Aptive underscores the exceptional company we have built over the past decade. We look forward to driving further growth in partnership with Citation and continuing to carry out our mission of providing top-tier services and helping people to better enjoy their homes.”
Tiffany K. Hagge, founder and managing partner of Citation, said, “Aptive embodies key characteristics that align with our investment approach of backing exceptional, defensible founder-led businesses. Vess and his leadership team have achieved remarkable growth, scaling Aptive to be one of the largest residential pest control service providers in North America. We are excited to work in lockstep with them to continue to expand the business both organically and inorganically.”
Aptive CFO Mark Lawrence said, “Partnering with Citation will not only fast-track our strategic growth plans, but will also enhance our ability to deliver unparalleled service to customers, elevating Aptive’s brand to new heights and further advancing our M&A strategy.”
Chudi Obianwu, a managing director at Citation, added, “Aptive holds a unique, scaled position in the pest services industry. We have gotten to know Vess and the leadership team over the last several years and believe our cultural and strategic alignment positions us well to enhance Aptive’s offering and value.”
J.P. Morgan served as lead adviser on the transaction. Paul Giannamore and Franco Villanueva-Meyer of The Potomac Company also advised Aptive.
Latest from Pest Control Technology
- Improving Business Performance by Managing Spending
- White Glove Services
- Rodents Present PMPs with Greatest Pest Control Challenge in Schools, Poll Finds
- ‘Rat City’ Tells the Story of Pioneering Researcher John B. Calhoun
- Rose Pest Solutions Promotes Bahrke, Marshall-Kee to Leadership Positions
- Rockwell Labs Announces Eco Extend Spray Adjuvant
- Syngenta Welcomes Anglian as Southeast Territory Manager
- Trapping Squirrels Out
