Mitie Group plc has agreed to be bought by OCS Group for £3.1 billion. OCS is a rival company in the same business — facilities management, which means taking care of buildings: cleaning, security, maintenance, and hygiene. OCS is owned by a private-equity firm called Clayton, Dubilier & Rice (CD&R), which is a type of investment fund that buys companies to grow and later sell them. Mitie's board told shareholders to accept a cash offer of 221.6 pence per share, which is 44.7% more than what each share was worth the day before. The deal should be finished by early 2027. The Guardian

Mitie shares jumped 41% on the morning of July 21, 2026, hitting a record high of 213.6p. Even so, the share price stayed below the 221.6p offer price. That gap reflects the fact that the deal isn't done yet — it still needs approval, and something could go wrong before it closes.

Mitie was founded in 1987 and has 84,000 employees. It works for UK government departments, including defence, health, and immigration, providing services like security and cleaning. OCS Group has 135,000 staff and works across the UK, Europe, Asia Pacific, and the Middle East. Rob Legge is the CEO of OCS Group.

The deal immediately paused Mitie's £100 million share buyback programme, which started on 14 October 2025. A share buyback is when a company buys its own shares back from investors to reduce how many are out there, which can lift the share price. Pausing it when a takeover is pending is standard practice. Investegate

Mitie's CEO Phil Bentley said in June 2026 that he would leave in March 2027 after more than ten years in the job. That timing is close to when the deal is expected to finish, though the two announcements were made separately.

The Mitie deal is part of a bigger trend. In 2026, several London-listed companies — including Intertek, easyJet, Beazley, and Schroders — have agreed to be bought. Private-equity firms have a lot of money ready to invest and see London-listed companies as good value compared with similar companies on other stock markets. Facilities management is especially attractive because its contracts run for years and often involve government money.

Together, Mitie and OCS would have about 219,000 employees worldwide. Because Mitie handles government contracts in defence, health, and immigration, this isn't just an ordinary business deal. The UK government has powers under a law called the National Security and Investment Act to review and even block takeovers involving companies that work in sensitive areas. Whether the government uses that power here depends on how it views a private-equity-owned company taking over a major public-service contractor.

The broader picture also involves workers. A company this large in an industry that depends on lots of staff and thin profit margins will likely look for ways to cut costs. In facilities management, mergers have often led to job changes afterward. Mitie's 84,000 employees and OCS's 135,000 staff may see their terms, conditions, or union arrangements affected as the two companies combine.

For Mitie's shareholders, the offer is straightforward: cash at a price well above what the shares were worth on their own. The board unanimously recommended the deal, which suggests they don't expect a better offer to come along. But the gap between the current share price of 213.6p and the offer price of 221.6p shows the market thinks there's a small chance the deal could fall through or be delayed.

The deal needs shareholder approval and is expected to close in the first quarter of 2027, around when Bentley is due to leave. The months in between will be spent on planning how to combine the two companies, filing paperwork with regulators, and talking to the government.