OCS Group set to acquire Mitie in £3.1 billion takeover deal

As stated, the offer values Mitie’s entire issued (and to be issued) ordinary share capital at approximately £3.1 billion and represents a premium of approximately 46.8% to the closing price of 151 pence per Mitie share as of 20 July 2026 (the last business day prior to this announcement).

The proposed combination would create an organisation with “greater scale, broader capabilities and an expanded international footprint” and bring together complementary strengths across technology-led facilities management (security, engineering and hygiene), facilities transformation and facilities compliance services.

Mitie’s announcement points towards the enlarged group being “better placed” to support customers across the public and private sectors, both here in the UK and internationally. By bringing together complementary capabilities, broader sector expertise and greater geographical reach, the enlarged group would be better positioned to support customers operating in increasingly complex, regulated and mission-critical environments.

Those complex, regulated and mission-critical environments include healthcare, defence, central Government, national infrastructure, life sciences and major commercial markets where customers increasingly value scale, technical expertise and resilient service delivery as they respond to complex operational and regulatory demands across their built estates.

The recommended offer is referenced as a “testament to Mitie, its people and the business they have built” across the years. The proposed combination would create a stronger platform for continued investment in people, technology, innovation and service quality and, further, would expand opportunities for colleagues across employment, apprenticeships, training and career development.

The transaction remains subject to approval by Mitie’s shareholders and regulatory clearances, including anti-trust and national security clearances.

For the time being, it’s “business as usual” for Mitie’s colleagues and customers, with the two companies continuing to operate separately until completion.

Strength of the business

Chris Rogers, chair of Mitie, explained: “Mitie has built one of the UK’s leading technology-driven facilities management, facilities transformation and facilities compliance services businesses. The Board believes OCS’ offer recognises the strength of the business, the progress achieved in recent years and the opportunities ahead. The combination would provide a stronger platform for growth through greater scale, complementary capabilities and enhanced investment capacity, while also retaining the qualities that have made Mitie successful.”

Rogers added: “Having carefully reviewed the offer, the Board has unanimously concluded that it represents an attractive outcome for shareholders, delivering the certainty of cash consideration, while positioning the business for its next chapter of growth. Accordingly, the Board intends to recommend unanimously that shareholders vote in favour of the transaction.”

Phil Bentley, CEO at Mitie, stated: “This announcement is a testament to everything we have achieved at Mitie in recent years and in particular the talent and expertise of our people and in the business we have built together as well as its future potential. This recommended offer reflects the strength of Mitie’s brand, capabilities and reputation and delivers value for our shareholders.”

Bentley continued: “As part of a larger group with a wider geographical footprint, Mitie would have an even stronger platform to invest in its people, technology and services and to do even more for the customers and communities we support. There’s a process still to run and much detail to work through. Until completion it’s business as usual and our focus remains firmly on delivering safely and reliably for our customers every day.”

Important milestone

Rob Legge, Group CEO of OCS, responded: “This is an important milestone for both organisations and an exciting opportunity to bring together two highly complementary businesses with a shared commitment to delivering the best outcomes for colleagues and customers.”

Further, Legge noted: “Subject to completion, we would build a British facilities management group that’s better positioned to support the organisations that keep the country running. Together, we can better support existing and new customers, help more people into work and strengthen our contribution towards making sure Britain is moving forward.”

In conclusion, Legge observed: “While there is a long process ahead, both businesses remain focused on supporting their customers and delivering the high standards those customers expect every day. Together, we can build something remarkable for our colleagues, our customers and the country.”

Subject to all of the necessary approvals, the deal is expected to be completed in Q1 2027. The acquisition would create a UK-based operation with combined annual revenues of circa £8.5 billion that employs upwards of 219,000 members of staff worldwide.

The announcement has been issued under Rule 2.7 of the UK’s City Code on Takeovers and Mergers.

*Further information is available online at www.mitie.com