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Why it matters: Environmental Pest Service is on the cusp of a major leap in annual revenue, using an all out grow-through-acquisition strategy.
In the race to become one of the largest pest control businesses in the country, consider Environmental Pest Service a tiger beetle — one of the fastest insects in the world.
The end of 2017 marks seven years of growing by acquiring other pest control firms, both in Florida and the Southeast. During that time, Environmental Pest Service, once based in Sarasota and now with a Tampa headquarters, has grown from $6 million in annual sales in 2011 to $50 million in 2017. While that kind of growth — 7,333% — would be cause for cartwheels-in-the-street celebrations for some companies, top EPS executives have pegged 2018 as another year of rapid expansion.
“We have a really good pipeline” for more potential acquisitions says Environmental Pest Service CFO David Bradford. “We think in 2018 we will almost double the pipeline we had in 2017.”
In 2017, the company completed six acquisitions of firms with slightly more than a combined $9 million in annual revenue. Bradford says the company's internal mergers and acquisitions department will be busy the next 12 months. The target: buy pest control companies where it already has a presence, such as Jacksonville or east and central North Carolina. It hopes to add up to $10 million in revenue to the company's total. Says Bradford: “Our primary goal is to add to our existing infrastructure.”
Another goal: make the top 10 of Pest Control Technology magazine's list of the 100 largest pest control businesses nationwide. EPS is No. 16 on the 2017 list, $4 million away from No. 13. It's also some $50 million in annual revenue away from a bigger goal: surpassing $100 million, and make the top 10 of the list.
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