CenterOak Partners LLC, a Dallas-based private equity firm, has made a majority recapitalization of Palmetto Exterminators, a pest control company.
Palmetto Exterminators provides general pest, recurring termite and mosquito control services. The company is headquartered in Charleston, S.C. and services residential and commercial customers in the Carolinas and Georgia. Palmetto currently operates eight branches and looks to grow organically and through add-on acquisitions.
“Palmetto is a great fit with CenterOak’s focus on investing in family-owned businesses in growing, non-discretionary end markets,” comments Jason Sutherland, co-managing partner of CenterOak. “As the first institutional investor of a second-generation family-owned and operated business, we were attracted by the opportunity to leverage CenterOak’s recent relevant investment experience in the residential services sector. Palmetto has a long track record of growth, and we look forward to supporting the Company’s next stage of expansion, both organically and through acquisitions.”