DALLAS and PROVO, Utah, Aug. 27, 2024 /PRNewswire/ — Citation Capital (“Citation”), a private equity firm specializing in partnering with founder- and family-led businesses, today announced the acquisition of a majority stake in Aptive Environmental (“Aptive”), one of the nation’s leading pest control companies. Aptive’s Co-Founder and CEO, along with the leadership team, will retain significant interest in the Company.
Founded in 2015, Aptive has rapidly become one of the leading residential pest control companies in North America. Servicing over half a million households, Aptive offers a comprehensive range of pest prevention services. With a dedicated team of approximately 4,000 employees, Aptive is committed to delivering world-class pest control services with the help of innovative technology that optimizes the everyday experience for both its customers and service professionals.
“We are thrilled to partner with Citation as we embark on this next chapter of growth for Aptive,” said Aptive Co-Founder and CEO Vess Pearson. “Citation’s investment in Aptive underscores the exceptional company we have built over the past decade. We look forward to driving further growth in partnership with Citation and continuing to carry out our mission of providing top-tier services and helping people to better enjoy their homes.”
“Aptive embodies key characteristics that align with our investment approach of backing exceptional, defensible founder-led businesses,” said Tiffany K. Hagge, Founder and Managing Partner of Citation. “Vess and his leadership team have achieved remarkable growth, scaling Aptive to be one of the largest residential pest control service providers in North America. We are excited to work in lockstep with them to continue to expand the business both organically and inorganically.”
Aptive CFO Mark Lawrence said, “Partnering with Citation will not only fast-track our strategic growth plans, but will also enhance our ability to deliver unparalleled service to customers, elevating Aptive’s brand to new heights and further advancing our M&A strategy.”
Chudi Obianwu, a Managing Director at Citation, added, “Aptive holds a unique, scaled position in the pest services industry. We have gotten to know Vess and the leadership team over the last several years and believe our cultural and strategic alignment positions us well to enhance Aptive’s offering and value.”
This transaction builds on Citation’s strong investment momentum, including its first investment in “better for you” snack maker Cibo Vita in October 2023. In July 2024, the firm announced a strategic partnership with Capital Constellation, a collaboration of the world’s premier institutional investors backing the next generation alternative investment firms, advised by Wafra.
About Citation Capital
Founded in 2023 by Tiffany K. Hagge and Lydie B. Hudson, Citation is a next generation private equity firm specializing in mid-cap control buyout investments in the services, industrial and select consumer sectors across North America. With a strong track record of partnering with founder- and family-led businesses, the Citation team continues to build upon its investments in businesses with defensible market potential, while preserving and compounding the legacies of families and founders. Citation is built on shared values and a relentless focus on performance, generating value through a hands-on, differentiated approach. Citation is headquartered in Dallas, TX, with an office in Greenwich, CT. For more information, visit Citation.Capital.
About Aptive Environmental
One of the fastest-growing pest control companies in North America, Aptive Environmental provides services to customers in 34 states across the United States. Since its launch in 2015, Aptive Environmental has quickly become the 5th largest pest control company nationally and is ranked #1 Pest Control Company on Best Company. Aptive is also a proud member of the EPA’s Pesticide Environmental Stewardship Program and has partnered with the United Nations Foundation’s “United to Beat Malaria” to help stop the spread of Malaria transmitted by mosquito bites. To learn more, visit www.AptivePestControl.com or find the company on Facebook (@AptiveEnvironment), Twitter (@Go_Aptive), Instagram (@Aptive.Environmental), or LinkedIn (@AptiveEnvironmental)
Contact
Prosek Partners for Citation
[email protected]
Missy Krause for Aptive
[email protected]
SOURCE Citation Capital, LLC
