Outsourcing company Mitie is set to be acquired by rival OCS Group in a transaction valued at £3.1 billion, marking one of the latest UK-listed firms to leave public markets. Under the terms of the deal, Mitie shareholders will receive up to 221.6 pence per share, combining cash and dividends. This offer represents a premium of nearly 45 percent over Mitie’s closing share price of 151 pence recorded on Monday.

OCS Group, which provides a wide range of services including security, cleaning, catering, pest control, engineering, and energy management, employs more than 135,000 people globally. The company operates across multiple regions including the United Kingdom, Europe, Asia, and the Middle East.

The acquisition will result in OCS assuming Mitie’s workforce of approximately 84,000 employees as of the end of March. It will also inherit Mitie’s existing contracts and partnerships, notably several government department agreements related to security and facilities management. The deal is expected to expand OCS’s footprint in the outsourcing sector, reinforcing its position as a leading facilities services provider in the UK and internationally.