I want to see the top twenty. It's a British firm and the Redcoats are coming. The question is, how do you grow profitably? I was writing the brochure. That was when I learned that lesson. What makes Rentokil attractive compared to some of the others out there? That gives me trust and faith that the same people are going to be around., John, this isn't for you to say but I'm going to say it because everyone in this industry knows that I don't mince words. He said, Rentokil North America is core to our business. There are a lot of them on this list that I would like to be able to utilize but I can't because a lot of companies don't have those records. At that time, he shared the same title that you had at Cintas. What does that strategy look like?, John Myers: There are a couple of things that come to mind. Although, youre pushing $1.5 billion. If you're in marketing, you dream up brand equity. The COO lives in Anaheim. Paul Giannamore: Let me ask you, John. A great boss. He was bright and driven with a record of taking a company from X to a public company. They've got odometers and WEX cards. Patrick Baldwin: At M&A, you go into sales mode for lack of a better term. The other thing, Patrick, is this job is a lonely job with the people reporting to you. I already said yes. I'm working for this amazing company and this incredible boss. That's a great success story. It makes a difference if I do a deal right now with a firm to know that I am going to see John, Bruce, and Alex a year from now, all these guys that have been around for a long time and have institutional knowledge. This may even have been before your time. For our readers, can you talk about maybe 3 or 4 things that you use from a performance indicator perspective as you manage the business whether it's on a monthly, weekly, or quarterly basis? We have bought more companies that have solved problems that we've been in search of a solution for. When we get several folks that come over for 2 to 3-year assignments, it's amazing the quality of decision-making we have. per informarci del problema. The second thing is because North America is important to the global business, we do get our fair share of ex-pats to come over for 2 to 3 years to learn another part of the business, another way of doing business, and then they go back. Those days are over., The other thing I should tell you is to forget the specialists. You build this knowledge of a service history with that customer., One of the things that we didn't know, and we didn't know until we tested it was I had the hypothesis that newer customers are more of a pain in the butt than older customers. It makes no sense to do that.. I know that you and I have had these discussions in the past. You're running a small $5 million business. These are businesses that have been around for a long time and have a lot of brand equity in the market and are of a size. John Myers: This is in no particular order. They've scaled a $1.5 billion pest control company based on that 149 number. To me, pest control is a local business. He's got over twenty years of route-based service business. What they did with the people and all that was one of the smartest moves that they made. Speaking of Ransom. Age Vanessa Evans Daragh Fagan John Pettigrew Mr Fagan Ms Evans Angela Jackson Mr Wood Andrew Ransom Mr Ransom Richard Solomons Julie Southern Mr Myers 0 20 40 60 80 wallmine.com I'm sure you're shooting for that number 2 to number 1 spot? I hope she's not even in your zip code. Explaining to commercial customers is no longer blank, it's blank. Patrick Baldwin: I didn't mean to bring it up. Paul Giannamore: Patrick, you had to bring that out. We own them as pest control providers and we've got a lawn care company killing mosquitoes. I'm going to flip it the other way. Similar to Episode 17, Paul engages with John as if he was a $5 million pest control business CEO. I'm not taking this from the standpoint of like, What do acquirers look for in regard to targets to make an acquisition? How would you think about that business from the CEOs perspective if you're running the $5 million shop? Rentokil Initial plc was founded in 1903 and is headquartered in Crawley, the United Kingdom. John Myers: It's right around 9,000. That could be a real challenge. They were competing with Crown Cork & Seal. Paul, this might be the most selfish thing I've ever said to you on the show. I was smart enough to go down on the shop floor early on and talk to the frontline shift supervisors who had been doing this job for twenty years and did know and say, I'm here not to get in your way. We're not going to say, We tried it. John highlights the #1 consideration that Rentokil North America has as a buyer, which may remind you of Episode 14. Its 2020 now and everyone's remote working. Disculpa message, contactez-nous l'adresse They're not taking ride alongs with technicians at random intervals. This episode wouldn't be complete without first discussing route density, its benefits, and the 'best new customer'. If I was to convert from Allgood to XYZ and a year later, someone's saying, They used to be called Allgood. We'll go, Time out. They had great expansion plans and I was going to lead those expansion plans but they had no money to do any of the expansion plans. It was almost like what Nucor is to the steel industry. Every one of our jobs internally is posted for people to apply., We only have two requirements. John opens up about fear of failure, a trait he shares with Rentokil Initial CEO Andy Ransom. That's pest control and that's what we're growing, particularly in North America. Your submission has been received! in marketing, University of Vermont; MBA, Mercer University, Atlanta campus. scusiamo se questo pu causarti degli inconvenienti. You might have too little or too many direct reports in the organization. A decile score of 1 indicates lower governance risk, while a 10 indicates higher governance risk. Usually, people are saying, Tell me the story. Not only do you folks publish a lot but you have a lot of presentations. One of the things that always interests me is that when Rentokil first bought Ehrlich, there was a lot of smoke in the market about who the hell is Rentokil? John, thanks for coming on The Buzz. If you could zip code yourself, these guys only work these zip codes and never leave it, that's good., The second thing is our specialists make more money if they do more revenue in the same amount of time. Patrick, I'm commandeering a lot of questions. Were fear-of-failure guys. One of the things that we did is we tracked every single customer that came into that business and tracked their duration. There was a lesson there., The lesson I share with people that are looking for jobs all the time is this lesson. We also had our Ambius business in Atlanta. Their training program was different from ours. Of the 9,000, 3/4 are frontline colleagues doing work out there in a vehicle, answering a phone, or selling something. Sales guys are used to hearing a fair amount of noes and trying to get yeses. You can't have this super top-down approach. It's you getting that working relationship with the customer and they become less and less expensive or inversely more and more profitable to serve over time. Thats why I was curious when I asked John the question. I don't know a lot about Rentokil outside of Brandon Ho and a couple of interactions around town., Paul Giannamore: John was a great guest. In pest control, it's been relatively stable. Paul Giannamore: They come over to learn the right way to do things. I'm happy that he spent hours and hours with us. For over 80 years, professional, reliable and effective service has been Rentokil Steritech North America's mission. Paul Giannamore: This is the last question I'll have for a little bit and Ill let Patrick get some stuff in. I always like to look at cause and effect in the impact on the bottom line. I don't mean robotic because we're all allowed to blow up once in a while and then apologize later. In a lot of ways, Rentokil North America has remained a distinctly American business, especially with you at the helm here and all of your senior managers for the most part. Lets keep this short and sweet. Anytime. How many employees are now under you? All of the players have gotten more and more sophisticated over the years. They come up with Orkin as a result and we lose business. I can't show up and think I'm going to slide. Heaven help you if you ran over a little kid. It had to do with some fish. It'll be good for my mental side of the business and my development side of the business capabilities. We had a tremendous amount of debates about strategy and tactics. If they're getting it, then there's hope for the middle 70 that I can make sure they're getting it. Lo and behold, years later, hes still helping me out. I know you got something for John. The data is there. The differentiators aren't in those elements. John Myers: Patrick, you were delving into what's the value proposition. John Myers is a Managing Director, North America of Rentokil Initial PLC. They'll talk to customers when they call in or whatever, but they're not proactive out on the field. Rentokil North America announced today it is again expanding its footprint with two strategic acquisitions. Ive been thinking these were the steps to a career path to do X. los inconvenientes que esto te pueda causar. Is this the problem I need to solve today? I look at it and I say, Its an important problem but not today. It was great. Aydanos a proteger Glassdoor verificando que eres una persona real. Onze If they're supposed to be chapter one after month one, chapter two after two, what percentage are on schedule? https://www.rentokil-initial.com Sector (s) : Industrials Industry : Specialty Business Services Full Time Employees : 58,600 Key Executives Amounts are as of December 31, 2022 and compensation. Patrick, that's the challenge. We've all got DNG sprayers. He sent me a letter. In other areas of Europe, you get the middle finger. Features; Our data; Clients; . There's a separation that has to occur. I show up in the room and I'm asking him questions about how we're running the business and why. Someone's going to call up and say, I've got blank. No kidding. There was a little place in my resume. Paul Giannamore: The other thing I'll say is John talked a lot about remote working. Its hard to understand and formulate a strategy around grading value if you're not getting that direct feedback. Brits, you guys come over and learn the right way to do things., John Myers: By personality, Andy realizes he can't dictate tactical execution of the strategy. I went over to London and he was kind enough to sit down and kind of giggle at me and look at me like Im a young kid trying to buy Rentokil North America. You're not going to get flipped upside down routinely about how we've changed all our strategies. Once I got good company, I met the guy I was going to work for and I said, He's good. It was Alan Brown and a guy named Andy Hobart. That was fine. Show more. What we wanted to do is follow our structure, which is we think an operations manager, which is the person that manages specialists, should have X specialists to one manager. You've got all sorts of potential liability issues. John doesn't shy away from responding to what wasn't all good with "Allgood" as well as room for improvement with regard to mosquito and tick opportunities. Western was largely a residential business out in California. Asia is different. I was selling ideas and trying to change minds. I came in when Vics three years were up. One of the things that I wanted to talk to you about is, is John Myers the person and John Myers the manager? Si continas recibiendo este mensaje, infrmanos del problema Paul Giannamore: My experience coming out of Bulge Bracket Investment Banking, prior to getting into pest control, I was dealing with extremely large transactions. Yellow pages are moving this way. Patrick Baldwin: I'm in Texas so I got time to hide. You bump into someone and you say, Patrick, good to see you. It's a big underdog. I do know that I'd have to think differently. We spend a ton of time thinking about that and there are four ways to solve that. If my mom said she wanted a pine tree planted in the back, my dad us three boys would get shovels and we started digging holes to put the tree in. An accountant can add down and across. It's a market where Rentokil is thin and Anticimex isn't there at all. Rentokil Initial plc was founded in 1903 and is headquartered in Crawley, the United Kingdom. envie um e-mail para On the factory floor, I would walk the floor and I'd say, Bob, have you been on your break? He'd say no and I'd say, Its time to take your break. Out there in the field, our folks are pretty dedicated to the task at hand. Big things that allow businesses to scale rapidly are having the appropriate organizational design and having the appropriate incentive structures. North America . John Myers: I don't. On that revenue, you're paying off the vehicles faster and covering the labor pieces.. All these kinds of tactical things that fit into a bundle of things that you have to deal with as a manager. Ill give them credit. Please enable Cookies and reload the page. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers. John opens up about fear of failure, a trait he shares with Rentokil Initial CEO Andy Ransom. He learned a lot at Cintas. Your team has always been reasonable. Let's see if a Connecticut kid can live in New Orleans and sell to Southerners. I was kicked out of my first customer on day two on the job. They bought more Ford vehicles than any other entity on the planet. Let's step into the boardroom with John Myers., Paul Giannamore: John, thanks for being with us on The Boardroom Buzz. Last updated: 1 January 2023 at 11:00am EST. There was a road fatality with one of the technicians. That's my normal week, day, year in those categories, Paul. What does that do? John Myers: Youre a big liar. He also holds an MBA from Mercer University in Atlanta. John Myers: I don't know that step but that's a whole lot. Previously John held various senior management roles at Cintas Corporation. In early 2006, Rentokil closed the Ehrlich transaction. Every time you can do a little bit better in that portion of the total eight hours, you're going to make more revenue. We'll then come back in October and do these last two pieces and button it up in January.. He is a graduate of the University of Vermont where he earned a Bachelors degree in Business Administration. He said, You got to find 1 of your 70s and jam them into the 10 so we're rigid to that. I'm not sure that he ever thought it should be that rigid. If you're on the north side of Atlanta, you have to get down to the southeast side of Atlanta. Allgood was a great acquisition for us. Your number one or you should be out also is sector-specific. Theyre guys that I've dealt with for a long period of time. enviando un correo electrnico a Paul Giannamore: You talking makes me think about something. Some other day.. When we go to meetings and John shows up, and Mex is like, I want to sit on his lap and drink hot chocolate and listen to his story. He's a fierce leader for sure. We're all using Termidor or whatever. As an outsider looking in, how would you describe Rentokil culture? John describes the nuanced difference between success and excellence as his company has grown. Was Vic Hammel at the helm at the time?, Paul Giannamore: Vic stuck around. It's easy for me to have a problem or there's an extra service or someone's got whatever. John Myers: Right around eight years. I'm talking about Rentokil North America vis--vis the other players rather than Rentokil globally because I do deal with Rentokil all over the world. Buy a commercial plumbing company in 2020 without any experience? If I had a magic wand, $30 million, or something, and I could spend it and go, Let's get all these brands supported under a master brand that would help me to grow the business faster, I would do it in a minute., In today's digital world, it's hard to support multiple brands through Google and the like. That was never the goal.. Hopefully, don't pick a place where you can't get where you need to go because that's probably going to affect your capabilities. Paul Giannamore: He should record himself doing it and have his guys play it. The reason I bring that up is when there's an opportunity that fits your career interests and you say yes, it's going to make you a better businessman and maybe even a better person because you have to adapt yourself to new surroundings. John did on uncovering things during due diligence. A marketplace is probably growing 4.5% to 5% every year. John Myers: They said, We want you to go to San Antonio and be the plant manager, not the number two be the number one. I said, Im not sure I want to do that. I learned another important lesson. Back in the day, it was Alex Nigh doing everything. We tried them and it didn't work. Even the best ones, you'd look at it and you go, We could have done that better. This one was interesting. Vic Hammel knew more about this business than anywhere close that I knew but he also has strong opinions. He was generous with his time. Known Addresses for John Myers. There wasn't a strategy. others are doing that? As a result, I'm usually in a pretty good spot., The last thing I would tell you is I have changed my mind more often in meetings. Inside, he said, Day one, we started with my boot up your butt. The first thing is I love working for Andy Ransom. I came home and said, I want to work for these guys. These folks get stuff done. If you have an $8 billion marketplace, maybe it's closer to $9 billion now depending on whose data you use and you're the third largest pest control company in North America and you have a 10% market share, is that a good place to be?, Patrick Baldwin: It's great. I got lucky, Paul. It didn't take Rentokil long to bring PwC on to execute a lot of their buy-side diligence or at least financial accounting diligence.. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. I bet you dont think about that often. What I know about Rentokil is from meeting with John Myers and seeing Presto-X truck here in the area. As a result, I'm always worried about whether we're doing it the legal way with 9,000 employees. The last time you and I saw each other was pre-COVID. That drives me crazy., Patrick Baldwin: Arguably, disease control is from a greater extent than the general past., John Myers: This is the stuff that keeps me up and frustrated, Patrick. I don't even know any of the details. They had aspirations to make North America big. Over time you build an organization, and I can think of a lot of guys who haven't gone out. It's okay that you talk to the guy that owns the white house before he's ready to sell. When Anticimex, ServiceMaster, Rollins, or Rentokil goes out and buys a $25 million business when somebody goes out and buys Mike Rogers Killingsworth in Charlotte Metro that's been there for years thats well known, it doesn't make sense to change that name. If we start at the beginning, this would be the longest buzz on record. Rentokil Initial plc was founded in 1903 and is headquartered in Camberley, the United Kingdom. He helps to make sure I'm on my A-game. Cintas has a good brand name so it could be considered an upgrade. I think of the fatalities, the accidents. In certain areas of Europe, you get the polite no. Its a different business environment to where I am today where there are 19,000, depending on who's counting, pest control providers. How does John talk about their relationship between flagship Rentokil NA and HQ in London? Its 0.1% or something like that. Eventually, you have to sell it through the organization so that the strategy becomes the organization's strategy rather than mine., John Myers: They said, It seems like you're a pretty decent sales guy in Ohio. Someone's been living in the cold and they want to live in the warm or they've got a sick parent may be and they want to be closer to them and help out. Of course, it eliminates fender benders and all that kind of thing. John Myers: One of the things is that we are dedicated to doing it the right way, the legal way. You brought up MCS, VDCI, VDA, and Solitude. The Potomac Pest Control Group is a division of The Potomac Company, a global mergers & acquisitions and strategy consulting firm. Brett took over. Other OTC - Other OTC Delayed Price. Paul Giannamore: In the United States, you can have one specialist choosing five different wage and hour jurisdictions in one day. The next thing you know, you're riding in a truck unannounced., John Myers: No. What else pops into your mind? Established from humble beginnings in the UK in 1927, Rentokil Initial plc operates in over 60 countries and provides facility management services including: pest control, interior landscaping, hygiene washroom solutions, integrated facilities services and more. John Myers: I was 29. They said, There's a big difference from being number two of a facility to being the guy. As much as I knew about manufacturing at the point, I didn't know how to be the leader of a facility. Patrick Baldwin: John spoke about being out in the field being on the front lines riding along with those technicians. Its incredibly hard to do and incredibly successful when you figure out how to do it. Interestingly, Patrick, I'm old enough to remember Jack Welch. That's a great point, Patrick. Its leaving them as the local brand that they're known for in the market. The buying motives and the value proposition you're trying to create are the same even though there might be some nuances to culture. Vic and I would argue about whether that's the right thing or whether every truck should have a local telephone number on the side of the trucks so they knew you were from Shamokin, Wilkes-Barre, or Allentown. It's a five-hour time change. When Alan Brown was around, I reached out to Rentokil in the UK. Advertisements. We didn't call some guy to do it. If you start thinking of that type of math, then you understand that if you want to implement things consistently with 9,000 employees, you can't be winging it. What qualitative and quantitative data do you like to have in your hands to understand how you're running your business? It was relatively minor. Let's talk this through. To me, that's an important thing., A couple of the other things is when I think about the capabilities of Rentokil North America's M&A team, it was rough starting it. Selling shouldn't be considered a negative. I was selfish thinking about The Boardroom Buzz but we wouldn't have this friendship. Through a lot of conversations and eventually, some courage on my part, I would say, Andy, if we go fast, we're going to blow this company up. We've heard Jarl and John Myers talk about it. Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. Thank you., Patrick Baldwin: John, it was great to visit with you. Patrick Baldwin: I've heard that the Rentokil M&A team has come to take a liking to the Mex. They don't put me with bad guys. I can't think of any. It offers a range of pest control services from rodents to flying and crawling insects, as well as to other forms of wildlife management for commercial and residential customers. John Myers: I'm going to talk for ourselves. You got to be a pretty good listener. They always want to live in Phoenix, Redding, Pennsylvania, or whatever. Texas is a tough market for all acquires. Nous sommes dsols pour la gne occasionne. John Myers Overview CB Rank (Person) 51,917 Primary Job Title President and CEO Primary Organization Rentokil Initial Location Reading, Pennsylvania, United States Regions Great Lakes, Northeastern US Gender Male LinkedIn View on LinkedIn John Myers is a President and CEO at Rentokil Initial. I'm fine with that and I like that because it's 100% their decision and not an auction process at the highest price. Mr Myers is 63, he's been the Managing Director of North America of Rentokil Initial Plc since . My head of marketing lives in Nashville. I've got a team. He didn't say anything. I was in my late 20s or early 30s. Is it the same in the UK? Is it about money? Once in a while, we say, Do you know whos the best next new customer? The boss didn't even know they were coming. They tell you everything, all the warts and all the things that make them happy. Let's debate the heck out of it. Paul Giannamore: First off, sellers have a different degree of consideration when they're selling their business. verdade. Bringing in an experienced leader from another organization, they can apply things that they learned that were specific to their past employers. Paul Giannamore: First off, get the relevant data and understand the cause and effect behind it. For the most part, it was him doing everything from the front-end valuation submitting the approval memo, the Investment Committee to going out conducting DD and executing the deal. When you're sitting down with a seller, the sellers are worried about his people and the people are worried about losing their jobs but you're in the service business and it's done by people. I could think of one actual pest control claim in my time in the industry. My boss, Bob Kohlhepp, got promoted and there was a shuffle. I'm happy you stopped in to chat with us., John Myers: Thank you for that. You've got low route density. John Myers: You're hitting both points, by the way. Alex started in 05. I kid you not. What's your thought? Everyone reading now in Texas, call Paul. enva un correo electrnico a At my going away party, that same customer gave me a card. For so long, they were doing $25 million in revenue year in and year out in North America so they buy Ehrlich, Western, and the list goes on. We worry about having the wrong answer or even when we have the right answer, the failure to implement well. We're not doing a good job at tick control, either. This process is automatic. We're going to send somebody out and ten minutes of phone time wasted. I'm not familiar with indemnification claims. They're quitting for other jobs. Going back to safety, is there something you could give to our readers as they're running their businesses on a much smaller budget. I'm doing deals in pest control. By reinforcing the message from the top level, it does those things better than just hoping it happens." . We were getting feedback from the Allgood leadership team that the uncertainty of their future role was becoming debilitating, which is pretty unusual. Ryan leads DTK Facility Servicess over 1,600 employees across 190 counties. He had some subject matter experts that he pulled on. Your job is to help me know what you need to do your job better. They've got a lot of questions., Older customers that you've been servicing for years its like, Patricks guys are coming out. There's a lot of them. In your long history of deals, you maybe have had 1 out of 150-plus deals. It was largely a residential kind of general pest business. I do have one more to add to the list. Youve got a business like Modern doing about $20 million in revenue. You spoke English already. I didn't act on it well. We got our two training directors together to train newly hired specialists and then ongoing training. Every job is posted and we're happy to have people move around., Patrick Baldwin: Are you looking for that from people that are flexible and where they move?, John Myers: I'm a dinosaur in that. Look at the Rollins guys.
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