Capita Group PLC
18 March 2002
18 March 2002
THE CAPITA GROUP PLC
Capita expands its social care resourcing capability
Acquisition of Resource Management Ltd for £7.1 million
The Capita Group Plc ('Capita') has acquired the entire share capital of
Resource Management Ltd ('Resource Management'), a market leader in the
provision of qualified and specialist social workers, for a consideration of
£7.1 million to be satisfied in cash.
Resource Management focuses on the Greater London and Home Counties area
providing highly specialised and experienced social workers to a range of local
and central government bodies and private sector clients. Established in 1989,
the business has long term relationships with many of its clients and has
achieved sole and preferred provider status with many of them. The business
reported pre tax profits of £0.5 million (after departing vendor's costs of £0.3
million) on revenues of £5.5 million and assets of £860,000 in the statutory
accounts for the year to 31 March 2001.
In recent years, Capita has identified a number of niche resourcing markets that
have significant growth potential and has acquired and built up capability in
these areas. These are public sector recruitment, supply teaching and
specialist social services and care support. Capita first entered the social
work and social care resourcing market in April 2000 with the acquisition of
Social Housing Group Ltd. Since then, the business has demonstrated very strong
growth. Resource Management will be integrated into this existing national
Capita operation, strengthening Capita's capability in the Greater London area
and providing additional specialist resources for further national growth.
Rod Aldridge, Executive Chairman of the Capita Group Plc, commented:
'I am pleased to welcome the skilled consultants from Resource Management to the
Group. They have built up a superb client base and a loyal, specialist
candidate group that complements our existing business in this area. We already
have a strong position in this market and believe that by expanding our activity
through this acquisition, it will contribute strongly alongside our other niche
resourcing businesses.'
-Ends-
For further information, please contact:
The Capita Group Plc 020 7799 1525
Rod Aldridge, Executive Chairman
Paul Pindar, Chief Executive
Shona Nichols, Group Marketing Director
Capita Press Office 020 7544 3141
Issued by Finsbury 020 7251 3801
Morgan Bone
Mark Harris
NOTES TO EDITORS
The Capita Group Plc is a leading provider of integrated professional support
service solutions. The Group's service capabilities encompass customer services,
insurance services, human resource services, software services, systems and
strategic support and property services delivered to both public sector and
private organisations. With over 13,000 people at over 160 UK sites, Capita is
quoted on the London Stock Exchange and is a FTSE 100 company with revenues in
2001 of £691 million. In November 2001 Capita was awarded the Management Today
Most Admired Business Services Company Award.
Other recent contract wins include: a contract worth c.£500 million over 10
years, representing the largest ever contract for Capita to date, to deliver the
TV Licensing service on behalf of the BBC; the creation and administration of
the new Criminal Records Bureau certification service for the Home Office; the
infrastructure set up, management and development of the new national Connexions
Card service for 16-19 year olds for the Department for Education and Skills
(DfES) and the administration and infrastructure transformation of Abbey
National's general insurance operations.
This information is provided by RNS
The company news service from the London Stock Exchange
M
*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.