Rentokil Initial Completes Terminix Acquisition

LONDON and MEMPHIS, Tenn. - Rentokil Initial today completed the acquisition of Terminix Global Holdings, Inc. 

Completion of the transaction marks the combination of two leading pest control businesses with a long cultural heritage, outstanding talent and strong focus on people, customers, delivering products and services responsibly, and benefiting society and the environment by acting in a responsible manner.

As a result of completion of the transaction, the company is now the leading global pest control company, with approximately 4.9 million customers and 57,700 employees globally.

Andy Ransom, CEO of Rentokil Initial, said in a press release, "I am delighted to confirm completion of the Terminix transaction and would like to extend a warm welcome to our new colleagues, customers and shareholders joining the Rentokil Initial family. This marks an important milestone in Rentokil Initial's history with the combination adding valuable scale, capabilities and talent as well as the wonderful Terminix brand. Following an intense period of successful preparatory work to position the businesses for effective integration, we are now focused on delivering the deal's significant benefits. Rentokil Initial is well positioned for long-term sustainable and profitable growth as the new global leader in Pest Control and Hygiene & Wellbeing."

Added Richard Solomons in the release, chairman of Rentokil Initial, "This combination establishes our position as the leading Pest Control business in North America, the world's largest Pest Control market. We would like to thank the Board of Terminix and all shareholders for their engagement in this process and we look forward to delivering the transaction's clear strategic and financial benefits. I would also like to welcome all our new colleagues and thank everyone for their continued hard work and focus on our customers.

"I'm also delighted to welcome David Frear to the Board, who joins us today. This is a particularly notable appointment as he has been a Director of Terminix since January 2021, and brings considerable experience as a US-based CFO and as a board member of leading North American businesses."

Brett Ponton, CEO of Terminix, said in the press release, "We are very excited to be joining a company of Rentokil Initial's pedigree and to see the Terminix business we've built over 95 years embark on its next stage of development. The cultural similarities between the two organizations are clear - focusing on colleagues with outstanding training and high levels of engagement, who in turn deliver an exceptional standard of service for our customers. Our aim is to create a world class organization in North America with best of breed technologies, systems and operations, driven forward by the hugely talented people of both organizations. The Terminix team appreciates the trust placed in us by Rentokil Initial and is ready to become part of its growth story.