Proposed acquisition adds building services
Rentokil Initial plc (FTSE: RTO) today announces it has exchanged contracts with Managed Support Services plc (“MSS” or the “Company”) for the acquisition of its building services division, MSS Facilities Management (the “Division”) for a cash consideration of up to £6.5m (subject to a net asset adjustment at completion). The proposed sale is conditional upon the approval by the Company’s shareholders in general meeting.
The Division, which has 200 employees, has an approximate annual turnover of £22 million and operates from two principal trading sites in Manchester and London.
The acquisition provides excellent synergies with Rentokil Initial’s existing mechanical and electrical engineering building services business, which operates within the Initial Facilities division.
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About Rentokil Initial
Rentokil Initial is one of the largest business services companies in the world, operating in all the major economies of Europe, North America, Asia Pacific and Africa. The company has some 66,000 employees providing a range of support services in 60 countries. Services include textiles and hygiene services, pest control, tropical plants, parcels delivery and facilities services.
The Mechanical and Electrical engineering (M&E) sector provides in-building heating, ventilation and air conditioning, planned preventative maintenance, energy maintenance and energy management services.
For further information
Malcolm Padley, Corporate Communications
Rentokil Initial plc
+44 (0) 7788 978 199
Kate Miller/ Oliver Hughes
+44 (0) 20 7404 5959
Katharine Rycroft, Investor Relations, Rentokil Initial plc, 01293 858 166