Rentokil buys Mitie Pest division for 40 million pounds, we’ve all seen the news this last week and the industry is a buzz with the ‘shock news’ with many even within Mitie just not seeing it coming.
When the announcement was made around 07.30am on Monday it wasn’t long before the uncertainty and trepidation of change was swishing through Mitie with forums and phone lines ablaze with the what’s happening questions.
When I heard the news I literally leapt up and did a little dance, for me it’s the news I’ve been waiting for. Anyone from the outside looking in with business acquisition knowledge would have recognised the changes that were being made and it was only a matter of time.
I guess you’re wondering why I’m so excited?
Mitie Pest were a good company and in many ways had a good business model, reputation and systems, in a small industry like pest circa £464million with 3.2% growth per annum (information from ibisworld.co.uk.) at £26m turnover they were one of the big three with Ecolab and Rentokil. Rentokil now becoming a real power house domination through the acquisition with Rentokil also owning other smaller brands within the industry you may not be aware of.
For us at Contego the timing could not be any better. We have laid our foundations on a national foot print with many national clients in multiple market sectors. We have set our strategy and as we expand and grow we are positioned and set for organic growth of over 40% per annum over the next 3 years. We are focused on quality service delivery, risk reduction good old-fashioned customer service, protecting our customers and bringing innovation to a somewhat stagnant industry.
All I can see is opportunity for us and others as a realignment and review of services takes place by existing customers.
Pest control is changing....
Read the sale press release here: