Terminix, based in Memphis, Tennessee, has acquired 855Bugs, based in Waco, Texas. Terms were not disclosed; Paul Giannamore and Franco Villanueva-Meyer of Potomac acted as exclusive financial advisor to 855Bugs on this transaction.
The deal was actually filmed on the industry video podcast The Boardroom Buzz. Patrick Baldwin, a partner of 855Bugs, is moderating the podcast with Giannamore.
“From the final discussion to the meetings with Terminix to the employee dinner and the announcement day, everything is filmed,” says a press release from Terminx. It is the opening episode (# 59) for Season 2 of the podcast and can be viewed online at ProjectBlackBear.com.
“We are very excited to have this company and team join our organization,” said Brett Ponton, CEO of Terminix, in the press release. “It goes without saying, but some of the things that really attract us are great geographic presence, great local leadership teams, and great companies that have built great brands and reputations in the communities in which they operate. The 855Bugs team has done an excellent job in and around Waco and we are thrilled to have the brand and team as part of our organization. “
Commenting on the press release, Bob Howard, President of 855Bugs, “I wanted a company and leadership that said, ‘Hey, we want your brand to continue. We like everything about what exists now and we want all of these things in the future. In fact, not only do we want that, we want to provide the resources to grow the 855Bugs brand. ‘ That was crucial for me, and by the end of the day all the stars were aligned. And for me personally – wow – I have come full circle and have arrived exactly where I started my own career in malware management: at Terminix. “