Rentokil Initial has agreed to acquire the Steritech Group, which operates in both the United States and Canada. It has agreed to pay $425 million in cash, subject to U.S. regulatory approval.
“For some time, we have been pursuing a growth strategy in North America, the world’s largest pest control market, with Steritech at the top of our target list,” says Andy Ransom, chief executive of Rentokil Initial. “It has an outstanding management team with a proven track record and a reputation founded on technical expertise and a premium service, similar to ours. It is also highly geographically complementary to our existing U.S. business.”
The Steritech Group was founded in 1986 and provides pest prevention, food safety and quality assurance services. It also offers food safety and operational audits to companies in the restaurant and supermarket industries.