PestBrief Acquirers Truly Nolen Acquisitions
Private company Founded 1938 · Tucson, AZ

Truly Nolen Acquisitions

Truly Nolen is one of the largest family-owned pest control companies in the US, founded in 1938 and owned by the Nolen family for four generations. It operates in 19 states and international markets. Truly Nolen acquires 3–6 companies per year at 0.9–1.3× revenue, focusing on markets with existing brand presence. In Texas, it operates primarily in San Antonio, Houston, and El Paso.

Truly Nolen is one of the largest independently-owned pest control companies in the US, operating in 19 states plus international markets. Family-owned for four generations, they are a selective acquirer focused on markets where they have existing brand presence.

Acquisition profile
Revenue $400M (est., 2024)
Employees 4,500+
Deal pace 3–6 US deals/year
Multiple range 0.9–1.3× revenue
Preferred size $500K–$5M revenue
TX presence Moderate

Texas markets

Moderate — San Antonio, Houston, El Paso primary markets

Preferred service mix

Types of operator books Truly Nolen actively targets

ResidentialTermiteCommercial

Acquisition approach

Truly Nolen acquires to add density in markets where they already have brand recognition. They are a conservative buyer — deals take longer to negotiate, earnouts are common, and they prioritize technician retention above all else. The Nolen family is directly involved in acquisition decisions for any deal over $2M.

Key facts

  • · Fourth-generation family ownership — the Nolen family is highly involved in operations
  • · Famous for yellow mouse-car service vehicles — strong brand in Southwest and Florida
  • · International presence (Latin America, Europe) distinguishes from pure US operators
  • · Not backed by PE — no exit pressure, can take longer-term view on acquisitions
  • · Texas is a secondary market; Arizona and Florida are core

Recent Truly Nolen acquisitions

2024
Undisclosed TX operator
San Antonio metro
Route addition to existing SA branch
2023
Various FL tuck-ins
Florida
Primary acquisition focus remains FL/AZ

Deal list is representative, not exhaustive. Many tuck-in acquisitions are not publicly disclosed.

Frequently asked questions about Truly Nolen

Is Truly Nolen privately owned? +
Yes. Truly Nolen has been family-owned for four generations since its founding in 1938 by Truly Wheatfield Nolen. It is not PE-backed and has no plans to sell the company, which influences its conservative, culture-focused acquisition approach.
What is Truly Nolen's acquisition criteria? +
Truly Nolen acquires operators in markets where it already has brand recognition, prioritizing cultural fit and technician retention. It pays 0.9–1.3× revenue — conservative by industry standards — and has longer deal timelines than PE-backed acquirers.
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