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Rentokil acquires pest control business Steritech for $425 mln
September 1, 2015 / 6:21 AM / 2 years ago

Rentokil acquires pest control business Steritech for $425 mln

LONDON, Sept 1 (Reuters) - British support services firm Rentokil Initial said it had acquired a new business in the United States, as part of its strategy to accelerate growth of its pest control division.

The company said on Tuesday it had agreed to pay $425 million for Steritech, which operates in the U.S. and Canada, subject to U.S. regulatory approval.

Rentokil said the deal strengthened its position as the number three pest control business in the U.S., a market worth around $7.5 billion.

The acquisition is Rentokil’s second in a week after buying Chicago-based Anderson Pest Solutions. (Reporting by Li-mei Hoang; Editing by Neil Maidment)

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