M&A Process
The Acquirer of choice
We are actively seeking to expand our presence in the Southeast through acquiring high-quality pest control businesses.
Step 1: Introduction and Initial Diligence
Our process begins with a short introductory call to learn more about you, your pest control business, and your goals for the future. We’ll determine if we are aligned in our expectations, and upon mutual agreement, we will work together to put together an initial offer.
Expectations for Seller: We will ask for your help in providing some information for our short pre-LOI (Letter of Intent) request list so that we can put together a non-binding Letter of Intent. This information will include basic financial statements and sales-by-service information from the last few years, as well as information on vehicles, equipment and employees.
Next Steps: Once the LOI is agreed upon, we will both sign the document and move into the Due Diligence phase.
Step 2: Confirmatory Due Diligence
Once we receive a signed LOI, Rockit begins the diligence process by sharing a full request list and scheduling a kick-off call
Expectations for Seller: Shortly after the LOI is signed, the Rockit team will share a full Diligence Request List, which will need to be fulfilled in order to move to closing. This will include information for the major functional areas, such as Financial, CRM, Tax, HR, Operations, etc.
Expectations for Rockit: At the same time the Diligence Request List is shared with the owner, Rockit will schedule a 1-hour call to introduce the Seller to the Rockit Mergers & Acquisitions team to include functional area leaders and integration leaders. On this call, we will walk through the Diligence Request List with the owner and close out many of the open items while on the call. Rockit will aid the owner in any way possible through Diligence, to include helping the owner to retrieve files from their CRM or Accounting software systems.
Step 3: Legal Documentation
Once reasonable progress has been made on the Diligence Request List, both sides will begin working on legal documentation for closing.
Expectations for Seller: Closing document drafts will be created by Rockit and shared with the Seller approximately 2 weeks before the intended closing date, giving ample time to review the documents and share any comments and questions prior to the closing date.
Expectations for Rockit: Rockit will draft all closing documents and share with Seller approximately 2 weeks before closing. The Rockit team will be available to discuss any comments and questions from the Seller and find agreeable terms prior to the closing date.
Step 4: Closing
Once Legal Documentation is agreed upon and the Diligence Request List is 100% complete, the focus will turn to Closing Day.
Expectations for Seller: The Seller will sign the closing documents, receive their closing funds transfer from Rockit, and will help the Rockit team schedule a “day one” announcement meeting with employees.
Expectations for Rockit: Rockit will work with the Seller to schedule a meeting on the Closing Day with Seller and with employees of the business. This meeting allows employees of the acquired company to ask questions about Rockit and to transition to Rockit employees with benefits.
Step 5: Integration
Beginning just prior to close, both sides will work to facilitate a smooth transition of employees, customers, and all operations to Rockit.
Expectations for Seller: Seller will help Rockit smoothly transition the business by sharing all relevant information needed (supplier contracts, customer service plans, etc.). The Seller is also relied on to help communicate with employees and customers to ensure a smooth transition.
Expectations for Rockit: Rockit will schedule a “Pre-Integration” planning meeting approximately 2 weeks before close. During that meeting, our team will work with the Seller to create a plan for the best way to transition operations to Rockit that ensures a smooth transition of employees and customers. After closing, the Rockit team will remain onsite for weeks to guarantee all transition workstreams are working seamlessly.
To Learn More, Schedule a Call
M&A Process
