Mitie agrees £3.1bn takeover by OCS Group, leaving London stock market
7 reported
Outsourcer Mitie has agreed to a £3.1bn takeover by its private-equity owned rival OCS Group, ending nearly four decades on the stock market. The government contractor said its board recommended shareholders accept a cash offer of 221.6p a share, a 44.7% premium to Monday’s closing price. Mitie, founded in 1987 and employing 84,000 staff, specializes in facilities management including engineering maintenance, hygiene, and security. Its chief executive, Phil Bentley, announced last month he would leave in March 2027 after more than 10 years. OCS, which operates across the UK, Europe, Asia Pacific, and the Middle East with 135,000 staff, is owned by private equity group Clayton, Dubilier & Rice. The deal is expected to complete in the first quarter of 2027. Mitie shares rose 41% to a record high of 213.6p on the day of the announcement.
What’s reported
Mitie agreed to a £3.1bn takeover by OCS Group.
The cash offer is 221.6p per share, a 44.7% premium to Monday’s closing price.
Mitie was founded in 1987 and employs 84,000 staff.
Phil Bentley announced last month he would leave as CEO in March 2027.
OCS has 135,000 staff and is owned by Clayton, Dubilier & Rice.
The deal is expected to complete in the first quarter of 2027.
Mitie shares rose 41% to a record high of 213.6p on the day of the announcement.
Key figures
Phil Bentley, Mitie chief executive
Rob Legge, OCS chief executive
Rachel Reeves, former chancellor (mentioned as departed)
Clayton, Dubilier & Rice, private equity owner of OCS
Sources: The Guardian
