ServiceMaster Enters European Pest Control Market
ServiceMaster has announced the $200 million acquisition of Nomor Holding AB, Europe’s fourth-largest pest control company with operations throughout Sweden and Norway.
The acquisition which will be funded through $120 million in borrowing from the company’s revolving credit facility as well as cash from operations, is expected to contribute approximately $60 million in revenue and approximately $14 million of adjusted EBITDA to ServiceMaster’s earnings in the full year 2020.
The current management team at Nomor which provides pest control and hygiene services in Scandinavia under the Pelias brand, is expected to remain in place, reporting to Dion Persson, senior vice president of Strategy and International Operations for ServiceMaster.
Announcing the acquisition, ServiceMaster CEO, Nik Varty, said:
“We are incredibly excited to have the Nomor team join us as we launch our global expansion strategy and enter the large and growing European pest market.
“As we have shared with our investors and employees, we have global aspirations and these partners will help us execute our strategy through the established and successful platform they built in Sweden and Norway. Our new colleagues and their seasoned management team will provide us with local expertise, experienced in driving organic growth and profitability.”
Svein Olav Stölen, CEO of Nomor Holding AB, added:
“ServiceMaster is going to be a great home for Nomor,” . “Together we will build off our already strong position in the European market. With my fantastic team and experts, and together with a world-leading pest control services organization, it’s going to be a winning concept.”