Rentokil

Rentokil’s history can be traced back over 80 years during which time it has gone from City pet to City pest Photograph: PR

Rentokil started back in 1927 when the government asked a professor of entomology to find ways of killing death-watch beetles threatening Westminster Hall next to the Houses of Parliament. He produced a fluid called Ento-Kill Photograph: Corbis

Shortly after registering the firm as Rentokil, the professor behind the pesticide, Harold Maxwell-Lefroy was killed in a laboratory when an experiment produced poisonous fumes. The company earned the sobriquet Royal Rat-Catcher when it supplied pest control services to the Queen Photograph: PR

The Rentokil brand strengthened after war broke out in 1939. With the nation’s food stores already dwindling, further losses to pests could not be afforded and so Rentokil was depended on to protect them Photograph: PR

The company, based in Hatton Garden, was bought in 1957 by British Ratin. It became Rentokil Group in 1960 and was listed on the stock exchange in 1969 Photograph: PR

By the 1980s, Rentokil was one of a batch of conglomerates that dominated headlines with its swashbuckling acquisitions. Chief executive Sir Clive Thompson was a favourite of Margaret Thatcher and stockbrokers who dubbed him ‘Mr 20%’ for his ability to keep the firm growing Photograph: Graham Turner/Guardian

A hostile takeover of its competitor British Electric Traction (BET) in 1996 saw a name change to Rentokil Initial. The acquisition brought on board many of the service companies that BET owned including catering, transport, electronic security and conferencing. The bubble began to show signs of bursting 10 years ago when the firm missed growth targets. A boardroom coup by independent director Brian McGowan (pictured) led to Thompson’s exit and Doug Flynn became chief executive in 2005 Photograph: PR

However, the trouble appeared to deepen for Rentokil. In March, this year, Alan Brown from ICI was parachuted in as chief executive along with two others with the lure of a salary bonus package worth up to £100m between them, forcing both Flynn and McGowan out. Despite the new team, Rentokil’s performance has continued to worsen Photograph: Newscast

In July 2007, Rentokil brought out a hi-tech mouse trap which included infrared detection systems and measured doses of carbon dioxide to kill rodents. It sent a text message once this was done. The 'James Bond-style' technology was launched as a rise in street rubbish fuelled the busiest summer for its pest control business in a decade Photograph: PR

Last month, Rentokil Initial's shares crashed more than 30% after the its fourth profit warning since December 2007. The company cited botched acquisitions and poorly executed business restructuring. Earlier, the group admitted its parcel delivery service, City Link, was in an even worse state than previously thought as smaller customers took their business elsewhere. There was speculation the full-year loss could reach £40m Photograph: PR

Despite the profit warnings, Rentokil landed a clutch of Beijing contracts when it was given the task of clearing vermin out of the Chinese capital ahead of the Olympics. The peak breeding season for mosquitos, mice and cockroaches saw Britain’s best-known pest controller put in charge of cleaning out the cycling arena, archery centre and parts of the Olympic Green Photograph: PR