Tampa, Florida – December 18, 2009 – Hyde Park Capital Advisors, LLC is pleased to announce the recently completed sale of SunAir Services Corporation to Massey Services. Sunair Services, Inc. (SNR-AMEX) is the parent of Middleton Lawn & Pest Control, Inc., one of the largest termite and pest control and lawn care companies in Florida. Sunair will now be taken private as part of the integration into Massey Services, Inc. The combined company will be the 5th largest pest management company in the nation and the largest family owned company in the industry. Hyde Park Capital was investment banker and financial advisor to SunAir Services on the sale of the Company and rendered a fairness opinion in connection with the transaction.
Rick Rochon, Chairman of SunAir Services Corporation, commented, “We are pleased to announce the successful completion of the sale of SunAir Services to Massey Services. We thank Hyde Park Capital for their excellent investment banking advice and services over the past 15 months. Hyde Park helped the Company evaluate the acquisition interest from Massey Services and fully supported the Board in its efforts to maximize shareholder value for all of SunAir’s shareholders.”
John Hill, Senior Managing Director of Hyde Park Capital, said, “We thank the Company fort heir confidence in us and for the opportunity to be involved in this important transaction. We are sure that the combined company under Massey’s ownership will continue to be very successful as the leading termite and pest control company in the state of Florida.”
About Massey Services
Based in Orlando, Fla., Massey Services is one of the nation’s largest and most respected service companies. Massey Services and its subsidiary organizations employ over 1,300 team members and operate approximately 1,200 vehicles providing residential and commercial pest prevention,termite protection, landscape and irrigation services to more than 300,000 customers from Service Centers throughout Florida, Georgia and Louisiana. For more information about Massey Services, please visit www.masseyservices.com.
About SunAir Services Corporation
Sunair Services Corporation, a Florida corporation, through its wholly owned subsidiary,Middleton Pest Control, Inc., with headquarters located in Orlando, Florida, provides pest control and lawn care services to both residential and commercial customers. Middleton provides essential pest control services and protection against termites and insects to homes and businesses. In addition, Middleton supplies lawn care services to homes and businesses, which includes fertilization treatments and protection against disease, weeds and insects for lawns and shrubs. For more information about Sunair, please visit www.sunairservices.com.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused investment banking firm specializing in M&A and private placements and serving the corporate finance needs of middle market public and private companies. Our principals have extensive investment banking experience executing merger &acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory, fairness opinions and raising growth capital and acquisition financing for companies, including equity, mezzanine and senior debt. As one of the most active investment banking firms in Florida and the Southeast, our professionals have advised on more than 300 corporate investment banking transactions totaling more than $10 billion in transaction value. We are headquartered in Tampa, Florida and are a member of FINRA and SIPC. For additional information about Hyde Park Capital, visit www.hydeparkcapital.com or call (813) 383-0202.