Pest Control Industry Mergers and Acquisitions Update
May 01, 2022
On December 14, 2021 Rentokil Initial announced that it will buy Terminix Global Holdings for $1.3 billion in cash and 643.3 million new Rentokil Initial shares. The deal is expected to close in the second half of 2022 and will be their largest North America acquisition. Terminix CEO Brett Ponton said, "These are two highly complementary businesses with a similar operational playbook focused on supporting great people to provide outstanding customer service across Pest Control and Hygiene & Wellbeing. The combination will deliver further investment and the sharing of best practices to enable our talented teams to better serve customers, protecting them from the growing threat of pests and meeting their future needs. We will open our first innovation center in the U.S. and provide our industry-leading innovations and digital technologies to a far larger customer base. This is a win-win-win for colleagues, customers and shareholders." Rentokil reported that the acquisition will bring together 56,000 colleagues in more than 87 countries, serving 4.9 million customers.
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