Information  X 
Enter a valid email address

Capita Group PLC (CPI)

  Print      Mail a friend       Annual reports

Friday 05 June, 2009

Capita Group PLC

Capita acquires Capmark Services Europe

5 June 2009


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.


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)

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: