“SBDC is just awesome! I went to SBDC scared about purchasing a business and left confident and happy. My SBDC consultant worked with me every step of the way. She is the reason I was able to get through the entire process and now I’m a business owner."
Master Kill Pest Control is an established pest control company started in 1992 and recently acquired by John Norton in May 2014. John has an illustrious career in the pest control sector with nearly two decades of industry experience. He worked for a regional pest control company for over 18 years, starting as a technician and working his way to management positions. During his most recent employment he won numerous awards, from “Technician of the Year” to the “Presidents Club,” which is the highest honor within the company. He has been included on two “Top 10 Employee” lists in the last two years, with over 1200 employees working in the company.
In the fall of 2013, John came across a turn-key opportunity to purchase a well-established business in the Northeast Florida region -- Master Kill Pest Control. He decided it was time to reap the benefits of his hard work for himself as a business owner and hang up his hat as an employee. At the suggestion of a local banker, John sought the assistance of the Florida SBDC at UNF to guide him through the acquisition process and preparation of a loan package.
Most business acquisitions are fraught with challenges, and this one was no different. John and his SBDC consultant, Tracy Nazzaro, worked hand-in-hand to develop a company valuation and multiple purchase counter-offers, in addition to the completion of a lengthy due diligence process.
Once all terms were agreed, the FSBDC assisted John in the identification of resource partners and preparation of a business plan inclusive of financial projections to complete the loan package for an SBA 7(a) guarantee loan. The acquisition and borrowing process was quite a journey lasting nearly eight months. However, in the end John is now the proud owner of his own pest control company and he intends to continue to grow the business both organically through new customers and through the acquisition of additional established businesses.