Mergers & Acquisitions ·
Rentokil Initial plc announced an agreement to sell SOLitude Lake Management, LLC and its Vertex Aquatic Solutions…
RKLIFRentokil Initial PLC
Rentokil Initial plc announced an agreement to sell SOLitude Lake Management, LLC and its Vertex Aquatic Solutions division to Bain Capital for $230 million on a cash-free, debt-free basis. The transaction is expected to generate approximately $180 million in net cash proceeds after tax. SOLitude generated $112 million in revenue and $16 million in adjusted operating profit in FY 2025. The deal requires Hart-Scott-Rodino clearance and is anticipated to close by early Q4 2026. Rentokil Initial plc operates in the pest control, hygiene, and wellbeing services industry.