Bain Capital buys SOLitude Lake Management from Rentokil Initial
US lake and pond management provider SOLitude, with its Vertex Aquatic Solutions division, is being sold by Rentokil Initial for $230 million.
Rentokil Initial plc has agreed to sell SOLitude Lake Management, LLC and its Vertex Aquatic Solutions division to Bain Capital. The total consideration is $230 million on a cash-free, debt-free basis, with estimated net cash proceeds after tax of about $180 million.
SOLitude provides ongoing lake and pond management, shoreline restoration and water quality control services. In FY 2025 it generated revenue of $112 million and adjusted operating profit of $16 million. Rentokil said the sale simplifies its group and reduces leverage within its target range, supporting investment in organic growth and bolt-on M&A.
The deal is subject to Hart-Scott-Rodino clearance and is expected to complete in early Q4 2026. Goldman Sachs International is acting as sole financial adviser and joint corporate broker to Rentokil Initial.
Deal facts
- Target
- SOLitude Lake Management
- Business
- Lake and pond management company, including its Vertex Aquatic Solutions division
- Buyer
- Bain Capital
- Sponsor
- Bain Capital
- Seller
- Rentokil Initial plc
- Deal type
- Platform
- Value
- $230 million
- Advisers
- Goldman Sachs International financial adviser to Rentokil Initial plc
- Status
- Announced
- Announced
- Tuesday, September 22, 2026
Sources
Written by Buyout Desk from the sources above. Spotted an error? Email corrections@buyoutdesk.com.