Rentokil acquires pest control biz Steritech for $425 m

British support services firm Rentokil Initial said it had acquired a new business in the United States, as part of its strategy to accelerate growth of its pest control division.

The company said on Tuesday it had agreed to pay USD 425 million for Steritech, which operates in the US and Canada, subject to US regulatory approval.

Rentokil said the deal strengthened its position as the number three pest control business in the US, a market worth around USD 7.5 billion.

The acquisition is Rentokil's second in a week after buying Chicago-based Anderson Pest Solutions.