HedgeCo.Net \u2014 Rentokil Initial announced on September 22, 2026 that it has agreed to sell U.S. lake and pond manager SOLitude Lake Management, LLC, including its Vertex Aquatic Solutions division, to Bain Capital for $230 million on a cash-free, debt-free basis, according to the company\u2019s LSE regulatory announcement and corroborating coverage from PE Hub, AskTraders, and Proactive Investors. Estimated net cash proceeds after tax are expected at about $180 million.<\/p>\n
SOLitude, described as a leading U.S. lake and pond management provider based in Virginia Beach, generated $112 million of revenue and $16 million of adjusted operating profit in FY2025. The agreement is subject to Hart-Scott-Rodino clearance and is expected to complete by early in the fourth quarter of 2026. Goldman Sachs advised Rentokil on the sale.<\/p>\n
Rentokil framed the disposal as part of portfolio simplification and leverage reduction within its target range. For allocators tracking mid-market environmental-services carve-outs, the hard marks are the $230 million consideration, ~$180 million net proceeds, FY2025 $112 million \/ $16 million earnings print, and the early-Q4 2026 close target. Do not infer Bain fund vehicle, leverage on the buy side, or post-close roll-up plans beyond what was published.<\/p>\n","protected":false},"excerpt":{"rendered":"
HedgeCo.Net \u2014 Rentokil Initial announced on September 22, 2026 that it has agreed to sell U.S. lake and pond manager SOLitude Lake Management, LLC, including its Vertex Aquatic Sol\u2026 Continue reading