Archive · 21 Jul 2026
Mitie agrees £3.1bn takeover by OCS Group
Mitie, a company that provides cleaning, building maintenance, security, and other facilities management services, has agreed to be bought by OCS Group for £3.1 billion.
This deal is a big opportunity for both companies to grow and become one of the largest private-sector employers in the UK.
Mitie's shareholders will get a lot of money for their shares, and the combined company will have over 120,000 employees.
The deal is expected to finish in early 2027, and Mitie's CEO, who is leaving next year, is expected to get about £50 million from the takeover.
Mitie agrees to a £3.1bn takeover by OCS Group, with a 44.7% premium on Monday’s closing price.
The deal values Mitie’s equity at £3.1bn and would create one of the UK’s largest private-sector employers with over 120,000 staff.
Mitie reported revenues of £1.4bn for the three months to the end of June, up 10% from a year earlier.
Mitie CEO Phil Bentley is expected to receive about £50 million from the takeover through his shareholding and long-term incentive plans.
The transaction is subject to shareholder approval and is expected to complete in the first quarter of 2027.
- Who
- Mitie and OCS Group
- What
- Mitie agrees to a £3.1bn takeover by OCS Group
- When
- Expected to complete in Q1 2027
- Where
- United Kingdom
- Why
- To create one of the UK’s largest private-sector employers with enhanced investment capacity and growth opportunities
Mitie Shareholders
OCS Group
Takeover Offer
Mitie Shareholders
Mitie shareholders receive a 44.7% premium on Monday’s closing price.
OCS Group
OCS Group offers a cash deal valuing Mitie’s equity at £3.1bn.
- Takeover Value
- £3.1bn
- Offer Price per Share
- 221.6p
- Premium on Closing Price
- 44.7%
- Mitie's Revenue (Q2 2024)
- £1.4bn
- Expected Completion Date
- Q1 2027
- Mitie CEO's Departure
- March 2027
- Mitie CEO's Expected Payout
- £50 million
- Combined Employee Count
- 120,000+