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  "documentTitle": "Rollins Inc. (ROL)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-10-04 00:00:00",
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  "pageNumber": 28,
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  "notes": "Includes screenshots of competitor website and bio of their M&A lead.",
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      "kind": "callout",
      "text": "Not only is Rollins up against sole-focused pest control companies, but also other home service companies offering bundled services.",
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      "text": "Ned Stevens website screenshots showing M&A and pest control services",
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      "text": "Not only is Rollins up against sole-focused pest control companies, but also other home service companies offering bundled services. Ned Stevens is a growing cleaning and home maintenance company in 15 states and Washington D.C. Known for its gutter cleaning services, it also extended its services into pest control. The Company is backed by private equity owner Cobepa with $4.7 billion of assets under management and has installed an M&A team led by other private equity professionals.",
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      "kind": "paragraph",
      "text": "About Our Team... Nolan McClain: Senior Vice President of Mergers and Acquisitions. Nolan began his tenure with Ned Stevens in 2020 and, along with his team, has successfully acquired several home service businesses. Prior to Ned Stevens, Nolan worked as an investor at a middle-market private equity fund and as a management consultant with Bain & Company.",
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      "text": "Source: Nedstevens.com, Cobepa website, Ned Stevens Acquisition of Ned Stevens to Cobepa S.A.",
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      "kind": "title",
      "text": "Bundling Is Another Major Trend Working Against Rollins: Want Gutter Services With Pest Control Bundling?",
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