In June, PCT reported on activist investor Nelson Peltz and his Trian Fund Management having acquired a significant stake in Rentokil Initial, making it one of the company’s 10 largest shareholders.
Could private equity (PE) be in play at Rentokil Terminix as a result of this development? On July 20, UK news outlet The Sunday Times reported that Philip Jansen, former CEO of United Kingdom telecommunications giant BT, was seeking private equity funding for a deal that would make him executive chairman of Rentokil Initial.
According to The Sunday Times, the plan would involve Jansen and prospective backers working to improve the Terminix integration, then use Rentokil to acquire more U.S. pest control businesses. They might ultimately seek to re-list it in the U.S., where comparable businesses attract far higher valuations, The Sunday Times reported.
Source: The Sunday Times
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