Rollins, which began as a radio station in 1948, has grown into a diversified company with 400 locations, more than 7,800 employees, and annual revenues of more than $750.9 million as of 2004. The parent company of several businesses, Rollins is best known as the owner of Orkin, an exterminating company with offices nationwide.
Wayne Rollins took the company public in 1961 and three years later purchased the Atlanta-based Orkin Exterminating Company for $62.4 million, nearly seven times Rollins Broadcasting's revenues of $9.1 million. The transaction stands as the first recorded leveraged buyout in U.S. history. Orkin, named for founder Otto Orkin, had 170 branch offices in the South, Midwest, and West. To reflect the new diversification, the Rollins Broadcasting board of directors changed the company name to Rollins.
After the Orkin purchase Rollins continued to diversify its business interests. It owned and operated companies in the fields of residential security, lawn care, maid services, landscaping, and wall-covering distribution. Still involved in broadcasting, Rollins entered the outdoor advertising and cable television markets. The media division proved successful and, along with the oil- and gas-field branch, was spun off to shareholders in 1984, creating two new NYSE companies, Rollins Communications and RPC Energy Services, Incorporated.
Martha Craft, Rollins, Inc.
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