Rentokil Initial plc (RTOKY.PK,RTO.L), following the 25th September 2012 announcement, said it has closed the acquisition of Western Exterminator Company for a revised initial cash consideration of $92.6 million with a deferred consideration of up to $6 million payable within 18 months from existing financial facilities.
Western is a pest control company in California with annualised revenues of $149 million.
Additionally, Rentokil announced the completion of Eden Advanced Pest Technologies acquisition, a full service pest control company servicing commercial and residential customers within the West Coast states of Washington and Oregon. The company was founded in 1989 and has annualised $7 million revenues.
The acquisitions position Rentokil as the third largest pest control company in the USA with coast to coast coverage, according to the company.
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by RTT Staff Writer
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