New owner run by US private equity giant
Mitie has agreed to a £3.1bn takeover offer by rival outsourcer OCS Group.
The deal will combine OCS’s 50,000 UK employees with Mitie’s 86,000 staff to create a group with a turnover of around £8.5bn.
OCS, which is owned by US private equity giant Clayton, Dubilier & Rice, said the deal is expected to complete by spring next year subject to regulatory approvals.
FTSE 250 Mitie runs cleaning, security and maintenance services in buildings including hospitals, railway stations and prisons.
Mitie was founded in 1987 and specialises in facilities management, such as engineering maintenance and other services such as hygiene and security. OCS has 135,000 staff worldwide.
Last month, Mitie chief executive Phil Bentley said he would leave in March next year after more than 10 years in the top job.
OCS said that following the deal, its chief executive Rob Legge will lead the enlarged group while Gary McGaghey, chief financial officer of OCS, will be CFO of the enlarged group.
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