Former BT boss mulls catching rat-catcher Rentokil

The former boss of BT is planning a takeover bid for FTSE 100-listed pest control company Rentokil, according to reports.

Philip Jansen, who resigned from the telecoms giant earlier this year, is seeking private equity funding for a deal that would make him chief executive.

Rentokil is the world’s largest pest control company, operating in 80 countries.

But the group, valued at £11.6bn, has struggled since acquiring US rival Terminix in 2022. Last October, it was hit with a profit warning after it struggled to win new customers in North America.

Jansen, 57, is keen to improve the company’s performance in the United States, The Sunday Times reported, especially the integration between Rentokil and Terminix.

Private equity firms that could be interested in a bid include CVC and Bain Capital, the paper said.

Activist investor Nelson Peltz, who previously served on the boards of Disney and Unilever, revealed last month that he had built up a stake in Rentokil that makes him one of its top ten shareholders.

The Rentokil acquisition is the latest in a series of takeovers of London-listed companies this year.

CVC and Bain declined to comment. Jansen could not be reached for comment.