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M&A Deal Summary

Ridgemont Equity Partners and CD&R Acquire Terminix

On March 19, 2007, private equity firms Ridgemont Equity Partners and CD&R acquired consumer services company Terminix for 5.5B USD

Acquisition Highlights
  • This is Ridgemont Equity Partners’ 4th and CD&R’s 2nd transaction in the Consumer Services sector.
  • This is Ridgemont Equity Partners’ 5th and CD&R’s 9th largest (disclosed) transaction.
  • This is Ridgemont Equity Partners’ 57th and CD&R’s 11th transaction in the United States.
  • This is Ridgemont Equity Partners’ 4th and CD&R’s 1st transaction in Tennessee.
Investment Fate
  • Terminix went public in 2014.
  • Terminix was sold to a strategic buyer in 2021 for 6.7B USD.

M&A Deal Summary
Date 2007-03-19
Target Terminix
Sector Consumer Services
Buyer(s) Ridgemont Equity Partners
CD&R
Deal Type Going Private
Deal Value 5.5B USD
Advisor(s) Morgan Stanley
Goldman Sachs (Financial)
Sidley (Legal)

Target

Terminix

Memphis, Tennessee, United States
Terminix's corporate headquarters in downtown Memphis, Tennessee.
Terminix's corporate headquarters in downtown Memphis, Tennessee.
Terminix is a provider of residential and commercial pest management. The Company provides pest management services and protection against termites, mosquitoes, rodents and other pests. Terminix is based in Memphis, Tennessee.

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Buyer(S) 2

Buyer

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $500 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 66 of 134
Sector (Consumer Services) 4 of 4
Type (Going Private) 6 of 9
State (Tennessee) 4 of 5
Country (United States) 57 of 119
Year (2007) 3 of 6
Size (of disclosed) 5 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 M2 Midstream

Houston, Texas, United States

M2 Midstream LLC (“Momentum”), an independent midstream energy company that provides oil and gas producers with flexible, responsive and reliable midstream services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-03 PrairieWave Communications

Sioux Falls, South Dakota, United States

PrairieWave Communications, Inc., a broadband overbuilder, provides telecommunications services in rural South Dakota.

Sell $225M
Buyer

CD&R

New York, New York, United States

Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.

DEAL STATS #
Overall 14 of 93
Sector (Consumer Services) 2 of 6
Type (Going Private) 1 of 13
State (Tennessee) 1 of 6
Country (United States) 11 of 67
Year (2007) 1 of 3
Size (of disclosed) 9 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-16 Hertz

Estero, Florida, United States

Hertz operates car rental businesses through the Hertz, Dollar, Thrifty and Firefly brands. Hertz Global operates through corporate and franchisee locations and services the North American, European, Latin and South American, Asian, Australian, African, and Middle Eastern markets. In addition to its car rental business, Hertz provides fleet leasing and management services through its Donlen subsidiary. Hertz was originally established in 1918 and is based in Estero, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-11 Rexel

Paris, France

Rexel is a distributor of electrical parts and supplies. The Company supplies customers involved in residential, commercial and industrial construction, maintenance and renovation and currently has a network of approximately 1,700 branches in 29 countries, providing over 1.2 million products and related services. Rexel was founded in 1967 and is based in Paris, France.

Sell -
Mergr

Product

Company

Legal