|Related: What a Year! In this May 2021 PCT Feature, part of PCT's Top 100 coverage, UK-based freelance international industry journalist Frances McKim examined global M&A activity among the big 4 (Rollins, Rentokil, Terminix and Anticimex).|
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."
Naren Gursahaney, chairman of Terminix, added, "On behalf of the Board of Terminix, I enthusiastically support this complementary combination of two phenomenal pest management companies. Our Board of Directors is confident that Rentokil Initial is the perfect partner for Terminix and that this transaction will maximize value for Terminix's customers, teammates and stockholders. The transaction delivers a compelling 47% premium for Terminix's stockholders, and the equity consideration will allow Terminix stockholders to participate in and benefit from the substantial upside potential of the combined company.”
Barclays and Goldman Sachs acted as Rentokil’s financial advisors, while Lazard advised Terminix.
This is an evolving story. PCT will be providing ongoing coverage.
|Rentokil, Terminix and Rollins in North America (source PCT Top 100 list)|
|Company||Headquarters||2020 Revenues||# of Employees||# of Offices||% Res||% Com|
Independent (UK): Rentokil unveils ‘win-win-win’ deal to snap up Terminix for £5.1bn
Bloomberg: Rentokil to Buy Terminix in $6.7 Billion Pest-Control Deal
Sky News: Pest control giant looms as Rentokil agrees takeover of US rival in £5bn deal
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