Arrow Environmental Services, a fast-growing, private equity-backed firm based in Sarasota, FL, has acquired Bug Out Service of Jacksonville. Both Arrow and Bug Out offer pest control and lawn care services.
Bug Out Service is a platform acquisition for Arrow
and will continue to operate under the Bug Out name. With revenues of $15.6 million, Bug Out is Arrow’s largest acquisition to date. Arrow will now have three platforms, Arrow Environmental Services on the west coast of Florida, Bug Out Service in the Jacksonville area and Skyline Pest Solutions in the Atlanta area.
Arrow Environmental Services is a portfolio company of Concentric Equity Partners. Concentric is a family office private investment firm based in Chicago. Joe Finney was recently named CEO of Arrow Environmental and an operating partner of Concentric. Finney previously served as president of Sears Automotive Group. Earlier in his career, he spent 16 years at ServiceMaster, where he was a regional vice president for Terminix.
Arrow has completed 39 acquisitions since Concentric invested in it in 2010. Arrow’s revenue run rate now approaches $40 million.