Bain Capital has agreed to acquire SOLitude Lake Management and its Vertex Aquatic Solutions division from Rentokil Initial for $230 million, with total estimated net cash proceeds after tax of about $180 million. Headquartered in Virginia Beach, Virginia, SOLitude has become the leading lake and pond management company in the US, leveraging more than 50 years of combined experience. Its services include ongoing lake and pond management, shoreline restoration, and water quality control for communities, municipalities, and property owners nationwide.

In fiscal 2025, SOLitude generated revenue of $112 million and adjusted operating profit of $16 million. Jacob Donnelly, partner at Bain Capital, noted that lake and pond management is growing increasingly complex due to rising water temperatures, nutrient run-off, and invasive species. He stated Bain Capital plans to invest in SOLitude's people, technology, and geographic reach as a standalone company.

The sale reduces Rentokil's leverage within its target range and supports its capital allocation priorities. Rentokil Initial employs about 63,400 people in 90 countries. Goldman Sachs International served as sole financial adviser and joint corporate broker to Rentokil. The agreement is expected to close by early Q4 2026.