The British outsourcer Mitie agreed to be bought by private‑equity backed OCS Group International for an all‑cash deal worth £3.1 billion (about $4.17 billion). OCS will pay 218.5 pence per share plus a dividend of 3.1 pence, a total of 221.6 pence, a 46.8 % premium to Mitie’s closing price. Shares surged over 40 % early, hitting a record high of 214 pence but still below the offer.

Alloying the two firms will create a British facilities‑management group with combined annual revenues of roughly £8.5 atheist, positioned to capture demand for data‑centre, power‑grid and regulatory services. OCS operates across the UK, Europe, the Asia‑Pacific and the Middle East, serving business, healthcare, technology and finance.

Under CEO Phil Bentley, Mitie has turned around its businesses since 2023, gaining growth in AI‑related infrastructure and government utility investment. Bentley plans to retire by March 2027 but will stay until the transaction closes in Q1 2027.

Mitie reported a 10 % revenue rise in the quarter ended 30 June, driven by new data‑centre contracts and engineering services at Astra Zeneca’s global research hub. The £100 million share‑buyback programme has been suspended pending the acquisition. The deal will delist Mitie from the London Stock Exchange.