Rentokil Initial announced on Friday the completion of its acquisition of The Steritech Group. Completion follows satisfaction of certain customary conditions, including Hart-Scott-Rodino anti-trust clearance.
On Sept. 1, Rentokil entered into a definitive agreement to acquire The Steritech Group, based in Charlotte, N.C., for $425 million in cash subject to regulatory approval.
The acquisition makes Rentokil the number three pest control business in the US, a key strategic market for Rentokil that accounts for approximately 50 percent of global pest control services.
Rentokil also becomes the third largest pest control company in Canada, creating a competitive national business, twice the size of its current Canadian operations.
North America is now the largest market in Rentokil Initial’s global footprint.
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