Rentokil Initial PLC
8 January 2001
RENTOKIL INITIAL'S DISPOSAL PROGRAMME
Rentokil Initial announces the sale of Initial Personnel
Services Ltd, its UK personnel services business, to
Ingleby (1367) Ltd (an acquisition company backed by
Bridgepoint Capital Ltd) for £23.5m with £21.2m of this
in cash and the balance of £2.3m in loan notes
In 1999 the business had turnover of £74.4m and operating
profits of £3.9m.
Commenting on the disposal, Chief Executive, Sir Clive
Thompson, said:-
'Total proceeds of our disposals are now £617m thereby
exceeding our target of at least £600m. Following this
huge restructuring programme, we can now concentrate
single mindedly on growing our revamped business which is
now highly cash generative and substantially non
cyclical.'
Press enquiries:
Sir Clive Thompson, Chief Executive
C T Pearce, Finance Director
01342 833022
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