"We believe the combination is a compelling opportunity for all stakeholders to participate in the value creation of the Combined Group." "The Board of Rentokil Initial and I are delighted to recommend this transformational combination which will create the global leader in Pest Control and Hygiene & Wellbeing," said Richard Solomons, chairman of Rentokil Initial. Rentokil officials also praised the deal. "Leveraging our strong combined residential and commercial capabilities and enhanced customer density will bring us closer to our customers and improve the quality of service we provide to our customers." "As part of a larger and stronger (organization), we will offer superior service and an even more comprehensive range of solutions for our customers, while accelerating our investments in growth and technology," he said. Terminix CEO Brett Ponton said the deal was a step toward Terminix becoming a global leader in pest control. Terminix posts its new signage on their corporate headquarters, replacing ServiceMaster on the Peabody Place building downtown on Tuesday, Oct. TERMINIX NEWS: 'Terminix is moving ahead': Sale of ServiceMaster Brands complete for $1.55 billion Terminix shareholders can elect to receive all cash or all stock in the deal, with each share valued at about $55. The new company will be traded on both the New York Stock Exchange and the London Stock Exchange. the company would be about a $3 billion enterprise, two-thirds of which would would be Terminix.
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The company currently has about 1,000 employees in Memphis, according to a spokesperson.Ĭombined, the two companies in 2020 served 4.9 million customers, had $5.7 billion in revenue and free cash flow of more than $600 million. Rentokil operates in 87 countries and has more than 44,000 employees globally.Īccording to its 2020 annual report, Terminix had 11,400 employees worldwide, with 2.9 million customers in 24 countries and territories. "Terminix will also be better positioned as part of a larger organization with global scale to invest in growth and technology, while providing leading-edge pest management solutions and best-in-class service for our customers." "The combined company will have a more comprehensive service offering across residential and commercial pest management - both locally and around the world," a spokesperson said in a statement.