Business acquisition opportunity
Commercial pest control business, Florida and the Gulf Coast
Anonymised as Project Aster
Anonymised mandate, codename PROJECT ASTER
Commercial pest control business, Florida and the Gulf Coast
Commercial and food-safe pest management
Why this business is called Project Aster
Project Aster is a working codename, chosen at random by DealFlowAgent (DFA) and standard practice in mergers and acquisitions. It exists so the business can be discussed with acquirers, funders and advisers without naming the company or alerting its staff, customers and competitors. The codename is not connected to the company, its brand or its trading name, and searching for it online will return nothing about this business. Everything you need in order to judge fit is on this page in banded form. The company is named to one verified acquirer only, after the owner approves that specific introduction in writing.
A commercial-weighted pest management business serving food processing plants, restaurant groups, healthcare facilities and multifamily portfolios across Florida and the Gulf Coast. The book is recurring, route-dense and audited by the customers themselves, because food-safe accounts are inspected. Not on the market, and no banker engaged.
Verified acquirers only. A short non-disclosure agreement releases the financial pack, the reserve figure and the contract base analysis. Identity is disclosed at the third gate, with the owner's written approval.
Indicative value range
$12M to $28M
Derived from comparable UK transactions in this sector over the last 24 months. This is a market reference, not the owner's number. The reserve is set separately and disclosed under non-disclosure agreement.
- Sector
- Commercial pest management
- Region
- Florida and the Gulf Coast
- Ownership
- Owner-held, professional manager in place
- Outside capital
- None
- Structure sought
- 60% to 100%
- Adviser status
- Unrepresented
$7-10M
Revenue
22-27%
EBITDA margin
80-88%
Recurring revenue
93%+
Customer retention
22+ yrs
Trading history
50-70
Employees
Over 80%
Commercial share
Dense, disclosed under NDA
Routes
Why every figure is a band
Companies on this register are real businesses with staff, customers and suppliers who do not know their owner is listening to the market. Exact figures are a fingerprint: a precise turnover, a filing date and a region will narrow most UK sectors to a single company. These bands are wide enough to protect identity and wide enough that a growing business does not fall out of its own mandate. Every band is verified against filed accounts and management information held by DealFlowAgent (DFA). Precise figures are released under a non-disclosure agreement.
01 Opportunity at a glance
What the business actually does
The mix is commercial rather than residential, which changes the economics: contracts are annual, cancellation is rare because a lapse creates an audit finding, and route density keeps drive time low. Termite, fumigation and exclusion work is sold into an installed base rather than bought through lead generation.
Between 80% and 88% of revenue is recurring, under monthly and quarterly service agreements, with fumigation, exclusion and termite work sold into the same customer base.
- Revenue mix
- 80-88% recurring service agreements
- Commercial share of revenue
- Over 80%
- Largest customer share of revenue
- Under 8%
- Average customer tenure
- 7+ years
- Technicians
- W-2 employees, state certified
- Food-safe accounts
- Third-party audit ready
- Customer acquisition cost
- Low, referral led
- Outstanding litigation
- None disclosed
02 Why now
Sector timing
Route-based commercial pest control has been consolidating for a decade because the revenue is contracted, the margins hold and density compounds. Commercial books with food-safe accounts are scarcer than residential books and price accordingly.
Nothing distressed. The owner has set a reserve so only acquirers prepared to meet it are put in front of them.
What has changed for this owner
Nothing distressed. The owner stepped out of daily operations two years ago and the business has grown since. The decision was to find out what a qualified buyer would pay without putting the accounts through a public process.
03 Financial profile
Three years, published as bands
Three years apart, published as bands, reconciled to reviewed financial statements and the recurring revenue schedule.
| Measure | Three years ago | Most recent full year |
|---|---|---|
| Revenue | $5-7M | $7-10M |
| Recurring share of revenue | 78-85% | 80-88% |
| EBITDA margin | 20-25% | 22-27% |
| Customer retention | 91%+ | 93%+ |
| Net debt | Vehicle debt only, disclosed under NDA | |
| Owner compensation adjustment | Identified and quantified | |
Where the earnings quality sits
- Recurring revenue is contracted and reconciled to the billing system, not estimated.
- The business has run without the owner in daily operations for two years.
- Technicians are employees, licensed in state, with low turnover.
- Growth is organic. No acquisitions in the period.
04 The owner's position
Stated in advance, in writing
| Question | Stated position |
|---|---|
| Is the business for sale? | No |
| Would they transact at the right figure? | Yes, confirmed in writing |
| Reserve figure | Set, disclosed under NDA |
| Preferred structure | 60% to 100% of equity |
| Rollover appetite | Open to a modest rollover |
| Post-completion involvement | 6 to 12 months, advisory only |
| Management team | General manager and route supervisors expected to remain |
| Represented elsewhere? | No adviser, no other process |
What a reserve figure is
A reserve, as at auction. Before a mandate goes live, the owner completes a full valuation exercise with DealFlowAgent (DFA) and commits, in writing, to the figure at which they will engage seriously. It is private and it is never published. Nothing below it is ever put in front of them, so no acquirer is invited into a conversation that was never going to happen, and the owner is never asked to decline a low offer.
The reserve is disclosed to verified acquirers at non-disclosure agreement stage. It is a threshold for engagement. It is not an asking price and it is not a cap.
The company does not need me any more. That is the whole point of building it this way, and it is why I can afford to be picky.
05 Transaction process
The four gates
01
Acquirer verification.
Funding position, sector experience, prior completions and decision-making authority are confirmed by DealFlowAgent (DFA) before any company information is released. Unfunded parties and brokers acting without a named principal do not proceed.
No company information released
02
Non-disclosure agreement and financial pack.
A short non-disclosure agreement releases the financial pack, the reserve figure, the contract base analysis and the management structure. The company is still not named.
Identity withheld
03
Owner approval and introduction.
We put the acquirer to the owner with a written profile covering their intent, their integration approach and their treatment of teams in previous acquisitions. The owner decides. Only on their written approval is the company named and a meeting arranged.
Owner's written approval required
04
Indicative offer.
Acquirers who meet the reserve are invited to submit an indicative offer. Where more than one qualifies, we run a structured process from that point.
Reserve must be met
06 Which acquirers this suits
A strong fit, and not a fit
A strong fit
- National pest control platforms seeking Gulf Coast density
- Private equity platforms building a route-based services group
- Facility services groups adding pest management
- Strategic acquirers with food processing relationships
Not a fit
- Parties without committed capital at the indicative range
- Buyers whose model depends on raising prices across the book at closing
- Structures weighted heavily to earnout
- Acquirers intending to convert technicians to contractors
07 About the Off-Market Register
What this register is
How the register works, and where to start
The Off-Market Register carries companies that are not for sale, at prices their owners have already set. Each owner has completed a full valuation exercise with DealFlowAgent (DFA) and committed in writing to the figure at which they will engage.
Every acquirer is verified before they see anything, every document released is watermarked to the recipient, and every access is logged. Before a mandate goes live it is tested three ways for de-anonymisation, and all three tests must fail to identify the company.
If you own a business in this sector, start with the free valuation, read the sector valuation guides or speak to us confidentially. If you acquire businesses, request acquirer access.
08 Questions
Answered in full
If the owner is not selling, is this a waste of my time?
The owner has committed a reserve figure in writing and has agreed in advance to meet acquirers who clear it. You are seeing a business before any process exists, without a competitive auction and without six other parties at the table. What you are not getting is a motivated seller, and you should price accordingly.
Why are the figures banded?
Because precise figures identify the company. Exact revenue, a state, a service line and a headcount will narrow most sectors to one business. Exact figures are released at non-disclosure agreement stage.
Will I be told the reserve before I commit time?
Yes. The reserve is disclosed at non-disclosure agreement stage, before any meeting and before any diligence.
What financial information sits behind the bands?
Reviewed or audited financial statements where they exist, otherwise tax returns and management accounts, together with the contract or customer schedule. The quality of what is available is stated in the pack rather than implied.
Can I approach the company directly if I work out who it is?
Acquirers who circumvent the register are removed permanently and the owner is informed.
Who pays DealFlowAgent (DFA)?
The owner, on completion only. There is no charge to acquirers at any stage, and no fee is payable by anyone if a transaction does not complete.
Own a business like this one?
Every mandate on this register began with a ninety-second valuation and a conversation. No retainer, no exclusivity, and your company is never named until you approve a specific introduction in writing.
Request access to Project Aster
Verification takes under a working day. On approval you receive the financial pack, the reserve figure and the contract base analysis under a non-disclosure agreement. The company is named only with the owner's written approval.
DealFlowAgent (DFA)
Commercial and food-safe pest management
Project Aster is a confidential mandate on the DealFlowAgent (DFA) Off-Market Register. All figures are banded and verified against filed accounts and management information. Nothing on this page constitutes an offer or an invitation to treat. DealFlowAgent is a trading name of BTB Holdings Ltd, registered in England and Wales.
