Pest control to office services firm Rentokil Initial is to sell two of its subsidiaries in a deal worth £28 million.
The move is the latest in a raft of non-core disposals by the East Grinstead-based group, which is looking to raise £600 million from sell-offs.
The company's UK timber preserving business will be sold to U.S. firm Osmose for £4.2 million, while its plant hire business PTP Aerial Platform is being sold to French firm Loxam for £23.8 million.
Last year, the timber preserving business made an operating profit of £500,000 on a turnover of £8.4 million.
The plant hire business made an operating profit of £3.5 million on a turnover of £18.2 million.
Chief executive Sir Clive Thompson said the deal meant proceeds from disposals had now reached £516 million and put the company in line to meet its £600 million target.
He said "These sales represent a further important step in the disposal programme for our non-core businesses."
The disposal strategy at Rentokil was begun after the group ditched its much-vaunted pledge to achieve 20 per cent year-on-year growth.
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