Thompson Street Capital Partners (TSCP) portfolio company PestCo Holdings, LLC (PestCo), an acquisition company formed to consolidate the highly fragmented pest control industry, acquired the assets of Presto Pest Control, Inc (Presto).
Located in Telford, PA and founded in 1999, Presto is a provider of commercial pest control services in the middle Atlantic with a particular focus on serving the restaurant industry. Presto is PestCo’s first acquisition. Terms of the transaction were not disclosed.
Jay Keating, CEO of PestCo, says: “Presto is an ideal starting point for our consolidation efforts at PestCo. Ken Fox has built a high-quality organisation 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, adds: “Presto has taken great pride in consistently delivering aggressive service coupled with a personalised 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 maximising 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.”
TSCP’s investment in PestCo is led by Managing Director, Jeff Aiello, who states: “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. 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, who notes: “It was a pleasure working with Ken to help him realise an outstanding outcome in this process. We also enjoyed working with the team at TSCP, who have moved quickly to establish themselves as investors in the pest control industry.”