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Acquisition Case Study: Italy

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Acquisition case study: Tolman Srl, Parma Igiene Srl, Omnia Srl

Rentokil Italy

Names of businesses acquired: Tolman Srl, Parma Igiene Srl, Omnia Srl

Country: Italy

Date acquired: 27/09/2012

About Tolman, Parma Igiene and Omnia.

This transaction was comprised of 3 separate companies offering Pest Control services, based in the North/Central regions of Italy. All were owner run, long established and successful entities present in the strategic area targeted by RI Italy.

The 3 companies were linked to one another by a partnership structure, as each was a member of ANID (Italian Association of Pest Companies) and had strong reputations for offering quality service in their respective geographies.

Why did Rentokil Initial pursue this acquisition?

In 2011, RI Italy identified North East and Central Italy as strategic geographical regions where the company needed to improve our presence and enhance density. We targeted these regions for the acquisition of small businesses with a reputation for high quality service and identified a fantastic opportunity β€” three companies to be acquired in one transaction: Parma Igiene, Tolman and Omnia.

This was an interesting opportunity for RI not only for the geography but also because in these companies had a high level of industry knowledge in Food Manufacturing and advanced technical competencies, which we did not have at the time.

How was the deal reached?

Although a complex deal to structure, related to the fact that we were acquiring with three different legal entities, thanks to the experience of the M&A team we were able to acquire the three businesses in a single transaction. It was imperative that we did not purchase one a single business; the strategy was to create the density that acquiring the three companies together would create.

Why did each business choose Rentokil Initial?

β€œRI conducted the deal in full transparency and were clear on their intentions from the outset with a serious approach. RI Italy is one of the biggest players in a very fragmented market and was one of the few partners who could assure business continuity in what was a very depressed market environment at the time.”

How have three businesses performed since?

The companies were fully integrated in six months; leveraging on our organisations systems and they have performed admirably. Now, 3 years on, all the customers acquired are still in our portfolio and we continue to offer them an ever improving service through innovative products and commitment to meeting their varying needs.



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