Mitie Group reported a 10% rise in first-quarter fiscal 2027 revenue to £1.4 billion, significantly outpacing the broader market's roughly 3% growth, while its board recommended a £3.1 billion cash takeover by OCS. Contract wins and renewals surged more than 30% to £1.6 billion, and the bidding pipeline hit a record £32.5 billion. The company is expanding higher-margin services in facilities transformation and compliance, supported by its £350 million acquisition of Marlowe, which is already enabling cross-selling of fire, security, and water services. Under the OCS offer, shareholders would receive £2.216 per share including the proposed final dividend, representing a 46.8% premium to the previous day's closing price. All AGM resolutions were passed on proxy votes.
Mitie Group PLCBoard recommends £3.1bn cash takeover by OCS at 46.8% premium, plus strong Q1 revenue growth and record pipeline.
OCS's £3.1bn cash takeover offer for Mitie is a major acquisition, expanding its facilities management business.