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Rentokil to buy rival for £6.5m
Rentokil Initial, the business services company, is set to pay £6.5m for the building services division of rival firm Managed Support Services. The firm says the acquisition will offer synergies with its own electrical engineering building services business. Managed Support Services’ division has 200 employees and turnover of around £22m a year. It offers services including heating, ventilation, air conditioning, maintenance and energy management. An MSS statement said that the board would not be able to distribute the proceeds of the sale immediately and would instead examine possible investment opportunities for reinvestment and development. MSS would therefore become an investment company seeking potential opportunities.