LOS ANGELES, April 22, 2019 /PRNewswire/ -- Med-X, Inc. ("Med-X") announced today that it has signed a non-binding Letter of Intent (LOI) to acquire Akamai Pest Solutions, a family-owned and operated business offering organic and non-invasive pest control services throughout the Hawaiian Islands since 2003. In 2018 Akamai had approximately $2 million in revenue.
With many years of extensive experience, Akamai provides natural solutions for pest control problems, and implemented in the safest way possible to the residents and businesses of Hawaii. Roger Meints, founder and owner of Akamai stated, "This unique structure with Med-X is an opportunity for me to continue to grow my business through the implementation of the highly effective Nature-Cide line of products and to be part of the growing movement to use environmentally safe products."
Matthew Mills, President and COO of Med-X commented that, "We are very excited about this particular LOI to acquire and work with a quality all-natural pest control service company such as Akamai. Roger has an extremely motivated and successful team who are highly experienced in the application of all-natural pesticides and has an impeccable reputation for delivering exceptional customer service. We are very excited about growing and expanding their business under the Nature-Cide and Med-X umbrella."
Signing this LOI is another key milestone for Med-X as Mills explained, "This acquisition unveils another step in the growth of our Nature-Cide division branding model via strategic acquisitions and/or partnerships. We are striving to create new opportunities for environmentally conscious pest control and product companies as an alternative to traditional acquisitions offered by other top pest control companies. In fact, we firmly believe that the Med-X acquisition/partnership opportunity can create greater growth and financial upside for the right small business owner and natural products developers who want to continue to work and grow their business alongside Med-X and our assortment of brands and divisions."
The closing of the acquisition is subject to several conditions, including without limitation, satisfactory completion of a due diligence investigation and execution of a Definitive Purchase Agreement. Accordingly, there is no assurance that the Akamai transaction will be consummated. Upon a successful closing, Akamai Pest Solutions will become a wholly owned subsidiary of Med-X's operating as part of the Nature-Cide Service division.
ABOUT NATURE-CIDE: Nature-Cide, provides our commercial and residential customers with all-natural, green, environmentally friendly and effective products via different applications for the control of insects while repelling rodents, reptiles and various birds. The Nature-Cide product line was first implemented via California licensed IPM (integrated pest management) service company "Nature-Cide Service." The Nature-Cide products are now positioned in professional pest control, hospitality, janitorial and agriculture through national distribution outlets. For more information, please visit https://nature-cide.com or email firstname.lastname@example.org.
ABOUT AKAMAI PEST SOLUTIONS: Akamai Pest Solutions is a Hawaiian based business serving the Big Island of Hawaii, Maui, Oahu, Kauai, Molokai and Lanai. Akamai Pest Solutions provides the residents and businesses of Hawaii some of the best services available, while using Integrated Pest Management to provide solutions for drywood termites and pest control problems without the use of tenting. Akamai Pest Solutions is Hawaii's Original Pioneer Treatment Provider of the XT-2000 Orange Oil Plus®, authorized and certified since 2003. XT-2000 Orange Oil Plus® is an organic drywood termites control service, which means no chemicals and no tenting.
ABOUT MED-X: Med-X, Inc. is a revenue generating "Green Scene" company with multiple divisions. Med-X, Inc.'s core product lines include all-natural products such as the Nature-Cide division described above. Med-X also has the Thermal-Aid division, which consists of patented and clinically proven Thermal-Aid hot and cold pain management modality products, including the Thermal-Aid Zoo and the Thermal-Aid Headache Relief System. The Thermal-Aid product line is distributed nationally through large scale distribution partners. Med-X, Inc. also operates a media division which owns and operates The Marijuana Times and a product development division called Malibu Brands.
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SOURCE Med-X, Inc.