Intrepid Advises Pest Control Industry Disruptor, Aptive, on Its Recapitalization With Owl Rock

Intrepid announced today that it served as financial advisor to Aptive Environmental, LLC (Aptive) on its recapitalization and growth financing with Owl Rock Capital Corporation (Owl Rock), a middle-market focused specialty finance company with $35 billion under management. Aptive raised $125 million in a senior secured credit facility. The investment will drive growth at Aptive, allowing the company to continue to enhance its service-focused solutions and invest in its team, technology, and infrastructure.

Founded in 2015 by industry veterans David Royce and Vess Pearson and headquartered in Provo, Utah, Aptive provides residential pest control services to homes across the United States. The company has leveraged its innovative direct-to-home sales engine to become the fastest growing and fourth largest residential pest control company in the country. Leveraging decades of experienceaptive from its sales and operations leaders, Aptive has built a proprietary technology platform which will help catalyze sustained growth through optimized customer identification, service fulfillment, and retention.

“We were drawn to Owl Rock because of their growth-oriented mindset and approach,” remarked Vess Pearson, CEO of Aptive. “We have an incredible market opportunity and look forward to what Aptive will be able to accomplish through our partnership with Owl Rock. Intrepid did a phenomenal job managing the transaction process and negotiating a deal that sets Aptive up for success. Their team understood how to position our company’s massive potential to secure a financing structure that exceeded our expectations.”

“Aptive is led by a world-class management team with unmatched expertise in their sector,” commented Jonathan Zucker, Managing Director and Head of the Capital Markets Group at Intrepid. “With the additional resources that this partnership with Owl Rock brings, Aptive is well-positioned to accelerate the execution of its strategic growth plan. We were honored to represent Vess, David, and the Aptive team in this significant transaction for Intrepid’s Capital Markets Group.”

About Intrepid’s Capital Markets Group

For more than 35 years, our principals have advised clients in capital transactions, leveraging their institutional investor relationships and expertise in managing competitive processes. Our team is committed to helping clients meet their capital needs through various structures that include equity, senior, structured and mezzanine debt.