5 June 2009
CAPITA TO ACQUIRE EUROPEAN ADMINISTRATION BUSINESS OF CAPMARK FINANCIAL GROUP
INCORPORATED
The Capita Group Plc ("Capita"), announced today that it has acquired the
European loan administration, asset management administration and commercial
mortgage backed securities (CMBS) administration services of Capmark Financial
Group Inc. for a cash consideration of approximately £10 million on a
cash-free, debt-free basis.
The acquired businesses include Capmark Services Ireland Limited, Capmark
Services UK Limited and Capmark Asset Management GmbH (collectively "Capmark
Services Europe"). The companies provide administrative services for CMBS
securitisations, commercial mortgages, commercial property loans and asset
managers from offices based in the UK, Ireland and Germany.
On a proforma basis, Capmark Services Europe made an operating profit for the
12 months to 31 December 2008, after adjusting for a major contract with the
vendor group that will be retained by it after completion, of approximately £
3.8 million on turnover of £11 million.
Commenting on the deal, Paul Pindar, The Capita Group Chief Executive said:
"The acquisition fits naturally within Capita's financial services
administration operations and will provide us with added breadth and depth of
expertise. There are real synergies between both the services and the customers
shared by Capmark Services Europe and Capita and the deal also further
demonstrates Capita's commitment to, and investment in, the financial services
industry. The increased capacity, particularly in the Republic of Ireland, will
help ensure our continued growth in this sector and we expect the acquisition
to bring clear benefits to both new and existing customers."
The acquired companies, which have approximately 110 employees, will become
part of Capita Fiduciary Group, which has had a presence in Ireland since May
2007. The Capita Group also has other business operations in Dublin with Capita
Registrars and Capita Financial Group.
-ends-
For further information please contact:
The Capita Group Plc
Tel: 020 7799 1525
Paul Pindar, Chief Executive
Shona Nichols, Corporate Communications Director
Press enquiries:
Caroline Mooney
Capita press office
Tel: 020 7654 2152 or 020 7654 2399 (out of hours)
Email: caroline.mooney@capita.co.uk
Capita Fiduciary Group provides an extensive range of sophisticated trustee,
corporate, fund and ancillary services to a wide range of institutional,
corporate and private clients worldwide. Their professional and committed
employees possess diverse experience, backed by efficient business processes
and technology to provide a convenient and client focused service. Capita
Fiduciary Group is part of The Capita Group Plc.
The Capita Group Plc is the UK's leading provider of BPO and integrated
professional support service solutions. With 36,000 people at more than 300
sites, including 62 business centres across the UK, Ireland, the Channel
Islands and India, the Group uses its expertise, infrastructure and scale
benefits to transform its clients' services, driving down costs and adding
value. Capita is quoted on the London Stock Exchange (CPI.L), and is a
constituent of the FTSE100 with revenues for 2008 of £2,441 million. Further
information on The Capita Group Plc can be found at: http://www.capita.co.uk
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.