Rentokil Initial plc (RTO,RTO.L) announced the acquisition of HiCare Services Private Limited, the second largest pest control company in India. HiCare has 30 branches delivering commercial, residential and termite pest control services. It has been owned by True North, a PE Fund, since 2014.
Andy Ransom, CEO of Rentokil Initial plc, said: "India's increasing urban population, growing middle classes and largely tropical climate makes it one of our key targets for future growth. With over 6,000 small pest control companies in India, the roll-up M&A opportunity remains significant."
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