Recent Acquisitions Spur Rentokil’s Growth

LONDON — Rentokil Initial on Wednesday reported a 13.9% rise in revenue from ongoing operations to $665 million, MarketWatch reported.

 

"I am encouraged by our performance in the first three months of this year, in particular by the rate of organic growth in our North America Pest Control operations and the ongoing Steritech integration," said Chief Executive Andy Ransom.

 

"We remain confident that the business will deliver a performance in line with our expectations for 2016," he added.

 

Earlier this year, Rentokil Initial announced a series of acquisitions made in the fourth quarter of 2015 and first week of 2016 in its growth and emerging quadrants designed to build city density and drive margin expansion.

 

In North America the acquisition of Oliver Exterminating complements the company's existing pest control activities in Arizona and Florida and also provides market entry into Puerto Rico and the Dominican Republic. The company has also acquired Remus Pest Control in Los Angeles to build density into its local pest control operations. 

 

In Australia the company has acquired Knockout Pest Control, a leading independent commercial and pest control business in Sydney, operating across the metro area and further south into Wollongong.

 

In New Zealand the acquisition of Fumacare Hygiene Services complements the company’s existing operations, achieving density and back office synergies. 

 

Sources: MarketWatch and Rentokil-Initial