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PEST · Q1 2026 · 3.0×–5.5× SDE band held quarter-over-quarter (n=92, BizBuySell trailing-12-month closed deals)PEST · One-time treatment revenue co-mingled with recurring route in 47% of deals · Earnings Quality finding pre-LOIPEST · Annual renewal rate undocumented in 38% of deals · Above 85% is the strongest top-of-band signalPEST · Sole-owner pesticide applicator license in 43% of deals · CA / TX / FL / IL require re-examinationPEST · Geographic concentration above 40% in single zip / HOA in 27% of deals · Transferability cliff riskPEST · Industry size $28B (IBISWorld 2024) · 4.8% CAGR 2020–2025 · Among most durable services verticalsPEST · BLS 37-2021 median wage $43,470 (May 2024) · Licensed applicator $55–$85/hr loadedPEST · Rollins (NYSE: ROL) ~30 add-ons/year · Rentokil/Terminix $6.7B integration ongoingPEST · Anticimex (EQT) · Aptive Environmental · Hawx Pest Control · Massey (Kohlberg) lead PE roll-upPEST · DSCR below 1.25× post-normalization in 34% of deals · Stress-test at 15% concentration lossJAPAN · 害虫駆除・防除 under Building Maintenance Act · 2.0×–3.5× EBITDA typical · Property-manager-mediatedMETHODOLOGY · Acquidex v1.0 · Sample window 2025-05 → 2026-04 · Trailing 12 months · n=92 SMB transactionsPEST · Q1 2026 · 3.0×–5.5× SDE band held quarter-over-quarter (n=92, BizBuySell trailing-12-month closed deals)PEST · One-time treatment revenue co-mingled with recurring route in 47% of deals · Earnings Quality finding pre-LOIPEST · Annual renewal rate undocumented in 38% of deals · Above 85% is the strongest top-of-band signalPEST · Sole-owner pesticide applicator license in 43% of deals · CA / TX / FL / IL require re-examinationPEST · Geographic concentration above 40% in single zip / HOA in 27% of deals · Transferability cliff riskPEST · Industry size $28B (IBISWorld 2024) · 4.8% CAGR 2020–2025 · Among most durable services verticalsPEST · BLS 37-2021 median wage $43,470 (May 2024) · Licensed applicator $55–$85/hr loadedPEST · Rollins (NYSE: ROL) ~30 add-ons/year · Rentokil/Terminix $6.7B integration ongoingPEST · Anticimex (EQT) · Aptive Environmental · Hawx Pest Control · Massey (Kohlberg) lead PE roll-upPEST · DSCR below 1.25× post-normalization in 34% of deals · Stress-test at 15% concentration lossJAPAN · 害虫駆除・防除 under Building Maintenance Act · 2.0×–3.5× EBITDA typical · Property-manager-mediatedMETHODOLOGY · Acquidex v1.0 · Sample window 2025-05 → 2026-04 · Trailing 12 months · n=92 SMB transactions
Industry Intelligence · Pest Control · Q1 2026
Updated · 2026-05-02Refresh · QuarterlyAuthor · Avery Hastings, CPA

Pest control business acquisitions sit in a 3.0×–5.5× SDE band. Top-of-band placement is structural — recurring service route density, chemical license depth, and renewal rate documentation.

Q1 2026 headline read
Quarterly · Updated 2026-05-02
PILLAR 01
Earnings Quality
47%
Q1 2026 baseline

of deals co-mingled one-time treatment revenue with recurring route revenue. Renewal rate documentation separates durable from transactional books.

PILLAR 02
Pricing
3.0×–5.5×
→ Band stable

Wide band driven by recurring route durability. Renewal rate above 85% is the single strongest top-of-band signal.

PILLAR 03
Fundability
34%
Q1 2026 baseline

of deals had DSCR below 1.25× after replacement applicator labor was restored. Owner-applicator normalization is the dominant Fundability finding.

PILLAR 04
Transferability
#1
Q1 2026 baseline

Transfer risk: pesticide applicator license held by exiting owner. Many states require re-examination — not just transfer — for new qualifying agent.

This quarter in
Pest Control
Q1 2026 · Jan–Mar

Renewal rate is the most contested data point in pest control diligence — and the most important. Sellers frequently cite aggregate customer count without providing the cohort analysis that reveals true annual renewal rate. The correct document request is a year-by-year cohort table: accounts active at start of year, accounts renewed, accounts lost, new accounts added. Any seller who cannot produce this within 48 hours of a serious LOI is carrying an information risk that should be priced into the structure, not the multiple.

State license re-examination requirements are a closing risk, not a post-close operational risk. In California, Texas, Florida, and Illinois, the new qualifying agent may be required to pass a state examination — not just file a transfer application. This process takes 30–120 days depending on examination availability. Buyers who do not verify this at the LOI stage are routinely surprised at commitment when the lender's legal review surfaces the requirement.

Read the full Q1 2026 Atlas →
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The pest control research stack.

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Acquidex evaluates pest control business acquisitions against the same neutral framework — Earnings Quality, Pricing, Fundability, Transferability — that lenders, brokers, and CPAs read. Submit a public listing URL or a CIM and we'll return a four-pillar teardown.

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  1. Q1 2026Renewal Rate, License Re-Examination, and the Concentration CliffRead →
Methodology

Acquidex v1.0, §3.4 (Earnings Quality), §3.3 (Transferability), §5.1 (Add-Back Stripping per SBA SOP 50 10 8). Methodology paper forthcoming Q3 2026.

Sample

Window: 2025-05 → 2026-04 (trailing 12 months). BizBuySell closed-deal data, IBBA Market Pulse Q3–4 2025 and Q1 2026, Pratt's Stats SMB transaction database, Acquidex direct deal observations

Refresh

Quarterly. Last update: 2026-05-02. Atlas archive at /intel/pest-control/atlas.

Author

Avery Hastings, CPA. Tokyo-based; SMB and lower-middle-market acquisitions in the US and Japan.

Acquidex · Industry Intelligence · 2026
AQX-IR-PCT-2026Q1 · v1.0
Pest Control Acquisition Intelligence: Multiples Band, Atlas, Playbook, Scored Deals | Acquidex