Squire Patton Boggs (US) LLP represented Charlotte, NC-based Steritech Group Inc. in its recently announced US$425 million all-cash acquisition by UK public company Rentokil Initial plc. The deal is expected to close in the final quarter of 2015, subject to regulatory approval.

Founded in 1986 by John Whitley, Steritech is a premier provider of food safety, quality assurance and pest prevention services. The company reportedly made sales of about US$150 million in the year ended March 2015, of which US$97 million came from commercial pest control and US$53 million from brand auditing.

The deal values Steritech at 28 times its adjusted EBITA of US$15 million for the year ending March 2015, and will significantly expand Rentokil’s operations in the US and Canadian markets.

Rich Ennis, CEO of Steritech, commented, “Steritech’s success has largely been based on great people delivering world class service to customers. Rentokil’s strong culture and focus on people make it the perfect fit for Steritech and its customers. I believe that the future is bright for the new organization and its customers.”

The Squire Patton Boggs team representing Steritech was led by Washington DC partner Abby Brown, with corporate assistance from Washington DC lawyers Jonathan Pavony, Michael de Gennaro and Wendy LaDuca, as well as Sean Clancy.