Mitie Group has struck a deal that will see it taken private by OCS Group International in a cash transaction worth about £3.1 billion. The announcement on 21 July 2026 caps a period of consolidation in Britain's facilities services sector, where competitive pressures have pushed companies towards larger platforms capable of delivering efficiency gains without taxpayer support.
The offer values each Mitie share at up to 221.6 pence, comprising 218.5 pence in cash plus a final dividend of up to 3.1 pence. That represents a 44.7 per cent premium to the company's closing price of 151.0 pence the previous day. Such pricing reflects the market's recognition of operational progress at Mitie and the strategic appeal of combining two substantial players in a fragmented industry.
The Mitie board has unanimously recommended the acquisition. Directors holding roughly 1.2 per cent of the shares, together with Oasis Management Company Ltd which controls about 9.9 per cent, have given irrevocable undertakings to vote in favour. The enlarged group would generate combined revenues of approximately £8.5 billion, creating a significant British facilities management business better placed to serve customers who keep the country's infrastructure running.
Mitie has built one of the UK's leading technology-driven Facilities Management, Facilities Transformation and Facilities Compliance services businesses. The Board believes OCS's 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 retaining the qualities that have made Mitie successful. 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.
Chris Rogers, chairman of Mitie, set out the board's reasoning in those terms. The transaction, structured as a scheme of arrangement, is expected to complete in the first quarter of 2027 subject to regulatory clearances, shareholder approval and court sanction. OCS is owned by Clayton, Dubilier & Rice, the private equity firm whose backing will fund the equity component alongside debt facilities.
Leadership perspectives
Phil Bentley, chief executive of Mitie, struck a note of continuity. Today's announcement is a testament to everything we have achieved at Mitie in recent years - especially 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. 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, and to do even more for the customers and communities we support. There is a process still to run and much to work through. Until completion it is business as usual, and our focus stays firmly on delivering safely and reliably for our customers every day.
From the bidder's side, Rob Legge, chief executive of OCS, emphasised complementarity. 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. Subject to completion, we would build a British facilities management group that is 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 to getting Britain moving. While there is a long process ahead, both businesses remain focused on supporting customers and delivering the high standards they expect every day. Together, we can build something remarkable for our colleagues, our customers and the country.
