LONDON (dpa-AFX) - Rentokil Initial plc (RTO.L), a pest control and hygiene services company, on Tuesday said it has agreed to sell SOLitude Lake Management LLC and its Vertex Aquatic Solutions division to private investment firm Bain Capital for $230 million.
The transaction is part of the company's efforts to simplify the group and focus on its highest-opportunity markets and categories. The consideration is on a cash-free, debt-free basis, with estimated net cash proceeds after tax of about $180 million.
SOLitude, which provides services including ongoing lake and pond management, shoreline restoration, and water quality control, had generated revenue of $112 million and adjusted operating profit of $16 million in 2025.
The transaction is subject to Hart-Scott-Rodino clearance and is expected to close by early fourth quarter 2026.
'The disposal further strengthens our balance sheet as we look to accelerate growth and improve margins and free cash flow and deliver on the clear opportunity for shareholder value creation,' said Mike Duffy, Chief Executive of Rentokil Initial.
On the LSE, Rentokil Initial shares closed down 0.47% at 317.80 pence on Monday.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
