ACQUISITION

BPCA member OCS has announced plans to acquire Mitie in a deal that would bring together two major facilities management businesses.

The proposed acquisition has been recommended by the Mitie board but remains subject to several conditions, including approval from Mitie shareholders and the relevant regulators.

If completed, the deal would create a larger UK-headquartered international facilities management group, combining the companies’ sector knowledge, specialist services and geographic reach.

OCS said the combined business would be better placed to support customers operating in complex and highly regulated environments. These include government, defence, healthcare, national infrastructure, life sciences and commercial markets.

The company also plans to continue investing in its workforce, technology and operational standards. It said bringing the businesses together could create wider opportunities for training, apprenticeships and career development across more services, sectors and locations.

The proposed deal could be significant for the wider facilities management and specialist services supply chain, including professional pest management. However, both companies have stressed that the acquisition has not yet been completed and that operations will continue as usual while the formal process takes place.

Rob Legge, Group Chief Executive Officer of OCS, described the announcement as an important milestone for both companies.

He said: “Subject to completion, we would build a British facilities management group that is better positioned to support the organisations that keep the country running.

“While there is a long process ahead, both businesses remain focused on supporting customers and delivering the high standards they expect every day.”

Mitie Chief Executive Officer Phil Bentley said the recommended offer reflected the strength of Mitie’s brand, services and reputation.

He added:

“As part of a larger group with a wider geographical footprint, Mitie would have an even stronger platform to invest in our people, technology and services, and to do even more for the customers and communities we support.

“There is a process still to run and much to work through. Until completion, it is business as usual.”

Further information about the proposed acquisition and its conditions is available in the Rule 2.7 announcement published through the London Stock Exchange.

Source: