Rentokil Steritech recently acquired Richmond, Va.-based Loyal Termite & Pest Control. The deal closed on March 1, and terms were not announced. Since 1996, Loyal has been owned and operated by the Lupini family, including founders Joe and Peggy Lupini; daughter Kim Williams (vice president); son Nick Lupini (president) and his wife Gena Lupini (vice president of pest control operations).
The company has grown to become the largest independent pest management firm in the Richmond, Va. area, employing more than 50 people.
“Under the leadership of the Lupini family, Loyal Termite and Pest Control has earned a reputation as a trustworthy and reliable pest management provider in the Richmond market,” says John Myers, president and CEO of Rentokil North America, parent company of Rentokil Steritech. “The company’s culture and customer-focused service ethic are completely aligned with ours. We are excited to have Nick, Gena, and the rest of the Loyal Termite and Pest Control team as part of our family and look forward to providing Loyal’s customers with an even more robust range of services.”
Nick Lupini told PCT the Lupini family made the decision to sell because Joe and Peggy Lupini, as well as Kim Williams, wanted to retire, and because the family wanted to take advantage of high multiples currently being paid by acquirers. Nick Lupini said, “Rentokil offered the best benefits to our employees and best opportunities for them in the future.”
Nick, 54, and Gena, 51, are staying on board for at least one year, and Nick said they hope to remain with the company for several more years. Nick Lupini added that nothing will be changing in the foreseeable future in terms of branding, operations and management structure.
Dan Gordon, managing director of PCO M&A Specialists, represented Loyal Termite & Pest Control in the transaction. — Brad Harbison