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Cambridge News Follow us on
Wednesday 29 Jan 2014 3:30 AM
Written byCHRIS HAVERGAL
Labour have pledged to save Cambridge City Councils pest control team if they take control of the authority claiming the planned closure was playing Russian roulette with disease.
The Liberal Democrat administration agreed to shut the service earlier this month but the decision has to be rubber-stamped with the councils budget and the redundancy process is expected to be ongoing at Mays elections.
Cllr Peter Roberts, Labours environmental services spokesman, said reversing the closure would be the first thing Labour did if it took control.
Cllr Roberts said he was concerned about the spread of rats, mice, cockroaches and bedbugs if residents were unable to afford a private contractor.
Cllr Roberts said: Anyone who walks through town at night can see that discarded food everywhere brings a risk of a rat problem to the city centre or busy areas like Mill Road, and the council needs to ensure it can tackle this.
Unlike the Liberal Democrats, Labour will not play Russian roulette with disease in our city.
We value the significant experience and expertise our staff bring to this area so we want to be clear that, if the Liberal Democrats proceed with this planned cut, we would reverse the decision immediately upon taking control, and reinstate pest control as a free service for residents in Cambridge.
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'Lib Dems are playing Russian roulette with disease, but we'll save pest control team' - Labour makes election pledge ...
The author has posted comments on this articleBoby Kurian & Reeba Zachariah, TNN | Jan 29, 2014, 01.29AM IST MUMBAI: Private equity firm India Value Fund, managing assets worth over $1 billion, will invest Rs 150 crore to back former Godrej Consumer Products MD and serial entrepreneur Arumugham Mahendran's buyout of pest control services company ISS Hicare from its Denmark-based parent.
The buyout deal is likely to be signed as early as Wednesday, with India Value Fund picking up about 90% stake in the asset. Mahendran, who will hold the rest, will have a "claw-back option", or right to buyback shares depending on the performance milestones of the company.
The PE firm and Mahendran will roughly pay Rs 120 crore for the acquisition, while Rs 30 crore will be infused to adequately capitalize the company's growth plans. Boutique investment bank MAPE advised Mahendran on the deal.
Mahendran left Godrej after 18 years during which he was also an equity partner in the group's food and beverages business sold to Hersheys last year. He joined Godrej when he sold Transelektra Domestic Products, which launched mosquito repellent brand Good Knight, to the group in 1994.
Later he built a pest control management business, Godrej Hicare, which was acquired by ISS Group, a global facility management services giant based in Denmark. The impending deal will see Mahendran buying back the business along with a PE fund.
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