Buyside · Acquisition sourcingLower-middle market · Pest control only

You have a thesis.We bring the routes.

Corridor Research builds and runs targeted, thesis-driven acquisition pipelines for PE-backed consolidators, family offices, and strategic acquirers in pest control. We start from your thesis — geography, service mix, ownership profile, size band — and deliver a list of owners worth a conversation, on-thesis and off-market.

Mandate size
$0.5M – $8M EBITDA
Database
2,887 U.S. operators
Typical engagement
9 to 12 months
Sun Belt rolloutsTermite specialtyCommercial pestMosquito programsWildlife & exclusionFounder-owned platformsRegional consolidationBolt-on tuck-insSun Belt rolloutsTermite specialtyCommercial pestMosquito programsWildlife & exclusionFounder-owned platformsRegional consolidationBolt-on tuck-ins
At a glance

A buyside desk,
not a list broker.

We are not selling you a spreadsheet. We are running a multi-month sourcing engagement against your investment thesis — built on the same 2,887-operator database we use to value sellside engagements, and the same buyer-side relationships you'd rather not chase on LinkedIn.

Pest control, only.
Every list, every introduction, every outreach script is built for this industry. We do not run sourcing in HVAC, plumbing, or landscaping.
2.9k
Tracked U.S. operators in our database — service mix, route density, ownership, and tenure, refreshed every quarter.
11%
Average reply rate to first-touch outreach across our active mandates. Industry cold-outreach benchmark sits below 2%.
1 in 5
In-dialogue conversations that progress to an LOI inside 12 months. The rest get a clean, documented “no” — and you don't waste cycles.
The engagement

Four phases.
Driven by your thesis.

Sourcing in pest control is not a list and a mail merge. It's a multi-month engagement where we sit inside your investment process — calibrating to your thesis, sharpening it where the data disagrees, and delivering owners who match.

01 / Calibrate

Translate your thesis into screening criteria.

A working session with your deal team to define the target profile — geography, service mix, revenue band, recurring concentration, route density, ownership type, tenure, and management depth — and turn it into a scorable filter against our 2,887-operator dataset.

02 / Source

A ranked, scored target list of owners worth a call.

We deliver a thesis-matched list of 150–300 operators with the data layered on: route density estimates, recurring-revenue mix, owner age and tenure, prior buyer outreach, recent licensing or hiring activity, and a fit score. You review, we refine, we ship.

03 / Engage

Direct, off-market outreach — under our shingle.

We run multi-touch outreach (mail, phone, in-person at industry events) using your buyer profile but our brokerage relationship. Owners take the call from a known sellside name, not an anonymous LinkedIn DM. We screen for fit, surface motivation, and brief you weekly.

04 / Convert

From introduction through signed LOI.

Once an owner is engaged, we manage IOI/LOI exchange, support quality-of-earnings work, and stay in the middle of negotiations through close. You only meet owners we've already pre-qualified on financials, retention, and seller motivation.

How we reach owners

Four channels.
One signed NDA.

Pest control owners are quiet. They don't read tech blogs, they don't take cold LinkedIn messages, and the ones worth buying are the hardest to reach. We work the channels that actually convert.

01 / Direct

Personal letter and call.

A short, signed letter from a partner, followed by a phone call inside ten business days. No “investment opportunity” template language. No mass mailing.

02 / In-person

Industry events & chapters.

NPMA, state pest associations, regional chapter meetings. We attend the ones the owners attend, and we already know half the room.

03 / Network

Warm referrals from sellside.

Every sellside engagement gives us new owner relationships and new conversations with neighbors. The best targets come pre-trusted.

04 / Signal

Trigger-event watchlist.

Owner age, licensing transitions, recent litigation, new GM hires, refinancing activity. We watch the signals that say “ready” before the owner does.

Why a buyside broker

Cold lists don't close deals. Trust does.

If you've tried in-house BD against the pest control universe, you already know the math. Eighteen thousand operators, two-thirds without an email address on file, a third with the owner still answering the phone. The owners worth buying don't reply to outreach from people they've never heard of. They reply to us — because we sold the operator down the street last year.

01

The same buyer-side relationships, reversed.

We've sold to most of the active consolidators in this industry. That sellside reputation is exactly what makes the buyside calls connect — owners pick up because the brokerage on the letterhead is one their peers have actually closed with.

02

Data the in-house team can't build.

Eighteen months of database work, two cycles of refreshed route-density estimates, prior outreach history per operator, and a fit-scoring model. You're paying for the work nobody has time to do from scratch on a $20M check.

03

Pre-qualified, not pre-pitched.

Every owner who reaches your team has been screened on financials, retention, owner motivation, and integration fit. The ones who aren't right get a clean “no” from us — not a confused call with your principal.

A live pipeline

What a sourcing engagement
actually delivers.

A blinded snapshot of one of our active Sun Belt mandates, month nine of twelve. Numbers are representative; buyer and target identities withheld per engagement terms.

Mandate · Sun Belt residential platform

Month 9 of 12 · 5 states · $1–3.5M EBITDA
2,140
Operators in geography Raw universe
1,026
Pass first thesis filter Size · mix · ownership
214
Scored, ranked, contacted Outreach wave
38
In live dialogue NDA signed
14
Introduced to buyer team Financials reviewed
6
LOI exchanged or in negotiation Year-to-date
Read of the funnel

Six live LOIs from a starting universe of two thousand.

The job of buyside is not to deliver names. It's to deliver conversations. The funnel represents nine months of outreach, screening, qualification, and pre-LOI work. The buyer's deal team met fourteen owners. They will close two or three before the engagement ends — at terms they negotiated, off-market, against zero competition.

Reply rate
13.4%
Avg time to LOI
4.1mo
Off-market
100%
Questions, answered

What acquirers ask us first.

The honest answers, not the brochure ones. If you're early in fundraising, mid-mandate, or already at the second platform, the questions usually look about the same.

How is this different from a list broker or BD agency? +
A list broker sells you a CSV. A BD agency runs the same generic template across a dozen verticals. We are a pest-control-specialist M&A brokerage running a sourcing engagement that uses our actual relationships, our actual database, and our actual sellside reputation. The owner who picks up our call has heard our name from a neighbor — that's the asset you're renting.
Who pays you, and how? +
You do. Buyside is a different engagement model than our sellside work. It's a monthly retainer plus a success fee tied to closed transactions inside the mandate. The retainer covers the database work, calibration, outreach team, and weekly briefings. The success fee aligns us with closing — not with sending you more meetings.
Will you take competing mandates in the same geography? +
No — not when the target profile materially overlaps. We carve exclusivity by service-mix, size band, and geography at the start of every engagement. If you're a residential-recurring buyer in the Southeast, no other residential-recurring buyer in the Southeast is on our buyside roster during your mandate.
What size mandate makes sense? +
Anywhere from one transaction at $500K EBITDA to a four-to-six-bolt-on program over a year. Below that, the math doesn't work for either side. Above eight or ten transactions a year, you should be building an in-house BD function and we should be the firm you call for the off-market ones.
Can you also represent us when we sell the platform? +
Yes — and roughly a third of our sellside engagements come from buyside clients five years downstream. Different engagement letter, different team lead, same firm. The continuity is part of the value.
How fast can you start? +
Two to three weeks from signed engagement to first outreach wave. One week for thesis calibration, one week for list construction and scoring, a few days to draft outreach. The database is already built — that's the long pole most BD firms can't skip.
Do we get the underlying list? +
You get every operator we surface, scored, ranked, and annotated with the reason we sourced them. What you don't get is the raw 2,887-record database — that's the firm's IP and the asset we rent across every mandate. If you want to license a static slice, ask us; we sometimes do that under a separate data agreement.