ServiceMaster Enters European Pest Management Market with Acquisition of Nomor Holding AB
September 09 2019 - 9:00AM
Business Wire
ServiceMaster (NYSE: SERV), a leading provider of pest
control, restoration and cleaning services to residential and
commercial customers, today announced its recent acquisition of
Nomor Holding AB, a Stockholm-based pest control company, with
operations in Sweden and Norway. Nomor is the fourth largest pest
control company in Europe.
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“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,” said Nik Varty, CEO of
ServiceMaster. “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.”
“ServiceMaster is going to be a great home for Nomor,” said
Svein Olav St�len, CEO of Nomor Holding AB. “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.”
Nomor is a leading provider of pest control and hygiene services
in both Sweden and Norway—where it operates the well-known Pelias
brand, with a head office in Elverum. The company offers a broad
range of pest control and hygiene services, including preventative
pest measures, food safety services, inspection and sanitation of
mold/fungi, and has deep relationships with the insurance industry
in both countries. Nomor has secured its strong position in the
market combining organic growth and M&A.
Nomor gives ServiceMaster a strong platform for growth in the
highly-fragmented European pest control market. A nationwide
network of local technicians makes Nomor the number two player in
both Norway and Sweden. The company has about 500 employees and
approximately 30,000 customers across Sweden and Norway.
Nomor is expected to contribute approximately $60 million in
revenue and approximately $14 million of adjusted EBITDA in the
full year 2020. The approximately $200 million purchase will be
funded through $120 million in borrowing from the company’s
revolving credit facility as well as cash from operations.
The current management team will stay in place and report to
Dion Persson, senior vice president of Strategy and International
Operations for ServiceMaster.
ServiceMaster acquired Nomor from Norvestor, a Nordic private
equity firm focused on investing in Nordic mid-cap companies with
strong growth potential, including service businesses that deliver
sustainable cost efficiencies through automation and digital
transformation.
ServiceMaster was advised by Foros, McDermott Will & Emery,
Mannheimer Swartling Advokatbyra (Sweden), and Advokatfirmaet
Thommessen (Norway). Nomor was advised by The Potomac Company, ABG
Sundal Collier (Norway), and T�rngren Magnell (Sweden).
About ServiceMaster
ServiceMaster Global Holdings, Inc. is a leading provider of
termite and pest control, cleaning and restoration services in both
the residential and commercial markets, operating through an
extensive service network of more than 8,000 company-owned
locations and franchise and license agreements. The company’s
portfolio of well-recognized brands includes AmeriSpec (home
inspections), Copesan (commercial national accounts pest
management), Furniture Medic (cabinet and furniture repair), Merry
Maids (residential cleaning), ServiceMaster Clean (commercial
cleaning), ServiceMaster Restore (restoration and reconstruction),
Terminix (termite and pest control) and Terminix Commercial
(commercial termite and pest control). The company is headquartered
in Memphis, Tenn. Go to www.servicemaster.com for more information
about ServiceMaster or follow the company at
twitter.com/ServiceMaster or Facebook.com/ServiceMaster.
About Nomor
Nomor is the second largest pest control company in Sweden and
Norway operating nationwide within three service areas: Pest
control, Food safety and Home & House. Customers include, among
others, insurance companies, property owners, municipalities and
the HoReCa industry. Nomor’s corporate headquarters is in
Sollentuna outside of Stockholm, Sweden. www.nomor.se
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190909005562/en/
Media: James Robinson | +1 901 597 7521 |
james.robinson@servicemaster.com Investors: Jesse Jenkins |
+1 901 597 8295 | jesse.jenkins@servicemaster.com
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