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Rentokil Initial acquires Tampa-based pest control service
StockMarketWire.com
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Rentokil Initial said it has acquired Tampa-based pest control company Environmental Pest Service.
The company said that for the full year ending 31 December 2020, it had acquired 23 new businesses with annualised revenues of over £150 million, for a cash spend of £180 million.
This excludes the consideration for EPS which was paid at the beginning of January 2021.
Rentolkil Initial said trading across its hygiene and pest control categories has continued to be strong in fourth quarter and it expects the final outcome for the year to be slightly above the top end of the range of current market expectations for adjusted PBTA.
Andy Ransom, chief executive of Rentokil Initial, said: Despite the impact of Covid-19 on our business in 2020, we have exited the year in a strong position, with the trading momentum of the third quarter continuing throughout fourth and with an excellent overall delivery of M&A, which significantly accelerated as the year drew to a close.
Story provided by StockMarketWire.com
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