July 15, 2021
Topic: Public Pest Companies, Valuations + the Pest Index
Guest: Tim Mulrooney, group head - global services, William Blair & Co.
In this episode we discuss:
Tim's status as the podcast's first repeat guest (hear him on episode 2).
What's he's learned from publishing the William Blair/PCO M&A Specialists Pest Index for the past nine months.
What surprised him about the results in 2020 and the first half of 2021.
How the commercial market is coming back earlier and stronger than expected following the pandemic.
How Tim recommends the average pest control operator use the index as a benchmark (as a directional gut check for your business).
Tim's take on what the rest of 2021 will look like and what factors will impact the residential and commercial indexes.
Why the stocks of the public pest companies are down this year.
His take on Anticimex not going public yet.
How a change in capital gains taxes could be driving valuations and volume of sellers.
Notable Quote: "From what I'm hearing, valuations are right back to where they were (before the pandemic). And you're not going to punish a company because of the COVID hangover where you have more difficult comparisons in the second half of the year because you know, ultimately, if you look at those two-year rates, this market is growing where it's always been growing and it will continue to do so, and that's the reason you're investing in companies like this because of the consistence and the reliability." —Tim Mulrooney
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