Terminix UK successfully acquired by Norvestor
Independent pest control business, Terminix UK has been acquired by Norvestor in a deal supported by PKF Francis Clark.
The transaction support team at PKF Francis Clark carried out vendor due diligence on the divestment of the UK business of Terminix Global Holdings Inc, which came about as a condition of its merger with Rentokil Initial.
Norvestor is a private equity firm focusing on mid-market businesses, primarily in the Nordic region.
Sam Phillips, Transaction Services Director at PKF Francis Clark in Bristol, said: “This was a complex transaction, which also involved certain Irish assets of Terminix UK. As existing advisers to Terminix UK, we were able to mobilise a team very quickly to conduct financial and tax due diligence on the business within a tight timeframe in preparation for the sale, working closely with the management team and our colleague Jack Swinburne at PKF O’Connor, Leddy & Holmes in Dublin.
“We’re pleased to see the deal complete and look forward to supporting Terminix UK to deliver on their buy-and-build growth strategy across the UK and Europe with the backing of Norvestor.”
PKF Francis Clark’s team also comprised Adam Kefford, Matt Pearce and Callum West.
James Gilding, Managing Director of Terminix UK, said: “This was a project on a relatively short timeline with a high level of detailed analysis and support required. From the very start of this project, the whole PKF team could not have been more accommodating or engaging.
“The key to their great service was regular communications and ongoing quality checking throughout. A personal thank you to Sam and the whole team for their professionalism and dedication. We could not have delivered on our project goals and timelines without them.”