Who owns RENTOKIL INITIAL WORKWEAR FRANCE?

RENTOKIL INITIAL WORKWEAR FRANCE has been 100% owned by HIG CAPITAL since September 2025.

At what enterprise value was RENTOKIL INITIAL WORKWEAR FRANCE acquired in 2025?

During the acquisition of RENTOKIL INITIAL WORKWEAR FRANCE by HIG CAPITAL in 2025, the transaction's Enterprise Value is estimated to be in the range of 300M - 700M EUR.

What was the EV/EBITDA of RENTOKIL INITIAL WORKWEAR FRANCE when it was acquired by HIG CAPITAL?

The estimated EV/EBITDA multiple for RENTOKIL INITIAL WORKWEAR FRANCE is in the range of 5x - 12x.

What was the EBITDA of RENTOKIL INITIAL WORKWEAR FRANCE during the acquisition?

RENTOKIL INITIAL WORKWEAR FRANCE's EBITDA is estimated to be in the range of 25M - 50M EUR.

How is the data for the RENTOKIL INITIAL WORKWEAR FRANCE acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the RENTOKIL INITIAL WORKWEAR FRANCE deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.ajbell.co.uk/news/articles/rentokil-initial-gets-eu370-million-workwear-unit-sale-france

What is the average EV/EBITDA multiple for the Business Services sector in 2026?

The average EV/EBITDA multiple for the Business Services sector in 2026 is 11.4x.

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Home Database Business ServicesRENTOKIL INITIAL WORKWEAR FRANCE

09/2025

RENTOKIL INITIAL WORKWEAR FRANCE acquired by HIG CAPITAL

FRANCE Facility Management / Maintenance / Industrial Cleaning EV 300M - 700M EUR

Context

H.I.G. Capital has acquired Rentokil Initial’s Workwear business in France. The strategic rationale for the divestment is to streamline Rentokil Initial's portfolio, allowing the group to focus exclusively on its core market-leading Pest Control and Hygiene & Wellbeing segments. For H.I.G. Capital, the acquisition represents a strategic entry into the French textile services market, providing a high-quality platform with recurring revenues and mission-critical services. The deal was supported by bespoke financing from CVC Credit. This carve-out significantly improves Rentokil’s capital efficiency by reducing annual CapEx requirements and is expected to boost the group's free cash conversion margin by approximately 100 basis points.

RENTOKIL INITIAL WORKWEAR FRANCE, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Business Services sector (11.4x).

-> Deep-dive in Business Services market trends

Target

Rentokil Initial's France Workwear division is a market leader in the French textile rental and hygiene services sector. Its business model is based on a recurring subscription framework, providing full-cycle textile services including the design, rental, laundry, and repair of workwear, flat linen, and specialized cleanroom garments. The unit's value proposition is anchored in mission-critical reliability and sustainability, serving over 21,000 customers across diverse industries through a nationwide logistics network. Strategically, the company maintains high customer retention (approx. 88%) and operates 34 specialized sites. Following the carve-out, the business will be rebranded to operate as an independent entity, focusing on scaling its leadership in the highly consolidated French textile services market.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2025

2024

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REFERENCES

Valuation range: EV 300M - 700M EUR

EBITDA range: 25M - 50M EUR

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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: hig capital