ROLLINS, INC. PRESS RELEASE.
Published on May 5, 2004
Exhibit 99.1 For Further Information Contact
Harry J. Cynkus
(404) 888-2922
Rollins, Inc. Completes Acquisition of Western Pest Services
ATLANTA, GEORGIA, May 3, 2004 -- Rollins, Inc. (NYSE: ROL), a premier North
American consumer services company, today announced that it has completed its
acquisition of Western Pest Services and affiliates for a cash payment of
approximately $110.0 million. Western Pest Services recorded revenues of $72
million in 2003 related to its pest control business.
At the same time, Rollins announced that it has sold certain ancillary
operations, Residex Corporation, the pest control material distribution company
that was acquired as part of the Western Pest Services transaction to an
industry distribution group.
Prior to the acquisition, Western Pest Services was recognized as a premier pest
control business and ranked as the 8th largest company in the industry. Based in
Parsippany, NJ, the Company provides pest elimination and prevention to homes
and businesses to over 130,000 customers from New York to Virginia with
additional operations in Georgia and Florida. Western is primarily a commercial
pest control service company and its existing businesses complement most of the
services that Orkin offers, in an area of the country in which Orkin has not
been particularly strong, the Northeast.
Glen Rollins, Vice President of Rollins, Inc. and President of Orkin, Inc., who
along with Western leadership, recently visited with all of Western's co-workers
over the past month commented, "We are impressed by the broad talent of the
Western team and look forward to learning a great deal from them. Working
together, we will improve operations and better serve our growing list of
customers."
Rollins, Inc. is one of the nation's largest consumer services companies.
Through its wholly owned subsidiary, Orkin, Inc., the Company provides essential
pest control services and protection against termite damage, rodents and insects
to approximately 1.6 million customers in the United States, Canada and Mexico
from over 400 locations. You can learn more about Orkin by visiting our Web
sites at www.orkin.com and www.rollins.com. You can also find this and other
news releases at www.rollins.com by accessing the news releases button.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
The above release contains statements that constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. The actual results of the Company could differ materially from those
indicated by the forward-looking statements because of various risks and
uncertainties, including without limitation, general economic conditions; market
risk; changes in industry practices or technologies; the degree of success of
the Company's pest and termite process reforms and pest control selling and
treatment methods; the Company's ability to identify potential acquisitions;
climate and weather trends; competitive factors and pricing practices; the cost
reduction benefits of the corporate restructuring may not be as great as
expected or eliminated positions may have to be reinstated in the future;
potential increases in labor costs; uncertainties of litigation; and changes in
various government laws and regulations, including environmental regulations.
All of the foregoing risks and uncertainties are beyond the ability of the
Company to control, and in many cases the Company cannot predict the risks and
uncertainties that could cause its actual results to differ materially from
those indicated by the forward-looking statements.