Mitie agrees £3.1 billion OCS Group approach

Mitie has agreed to be bought by a rival outsourcer in a £3.1 billion deal.

The company, which sells services including security and cleaning for the public and private sectors, has accepted an offer from OCS Group.

Under the terms of the deal, each Mitie shareholder will receive up to 221.6p per share, comprised of cash and dividends.

London-headquartered Mitie said the deal, provided a final dividend is paid to shareholders in full, values its share capital at around £3.1 billion.

It added the move will help accelerate business growth and create more opportunities to cater to the services market.

The deal is expected to complete during the first quarter of 2027.

Ipswich-headquartered OCS Group offers services including security, cleaning, catering and pest control through to engineering and energy management.

It has more than 135,000 staff around the world and operates across the UK, Europe, Asia and the Middle East.

The acquisition will see it take on Mitie’s workforce, which stood at around 84,000 at the end of March, as well as its existing partnerships and contracts.

Those agreements include deals with a range of Government departments for security and facilities management, the NHS for catering, cleaning and portering, and servicing for some of the UK’s largest railway stations and airports.

Phil Bentley, Mitie chief executive, said: “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.”

Rob Legge, OCS Group chief executive, added: “Together, we can better support existing and new customers, help more people into work and strengthen our contribution to getting Britain moving.”

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