Terminix

Terminix is one of the largest pest control companies in the world, it provides its services in 47 states USA and 22 countries around the world (by December 2021).

History

2021: Rentokil bought Terminix for $6.7 billion

In mid-December 2021, the British manufacturer of pest control products Rentokil bought a competitor from the United States Terminix. The deal amounted to $6.7 billion.

The deal is expected to allow Rentokil to scale up production and create a global pest control giant that will serve both households and commercial organizations.

Rentokil acquired Terminix for $6.7 billion

This is an exciting and revolutionary combination that will create a world leader in pest control in commercial, residential premises, as well as a leader in North America, the world's largest pest control market, said Rentokil CEO Andy Ransom.

According to the companies, in the medium term, the global pest control market, which is estimated at $22 billion, should grow by 4.5-5%.

The combined enterprise Rentokil, in which the shareholders of the American company will own 26%, will employ about 56,000 people in 87 countries. Rentokil Chairman Richard Solomons and CEO Ransom will retain their position in the combined company. The deal is expected to close in the second half of 2022. Rentokil said it plans to save at least $150 million three years after the deal closes and expects Terminix to increase its profit in the first year.

The British company said it would place American depositary receipts on the New York Stock Exchange. Barclays and Goldman Sachs acted as financial advisers to Rentokil, and Lazard advised Terminix.^[1]

Notes