CAPITA ACQUIRES NB REAL ESTATE
The Capita Group Plc ("Capita") today announces that its property and
infrastructure company, Capita Symonds, has acquired commercial property
management specialists NB Real Estate Group Limited ("NB Real Estate") for £10m
on a cash-free, debt-free basis. An additional contingent deferred
consideration of up to £10m will be payable on the achievement of certain
Established in 1982, NB Real Estate is a multi-component property services
business specialising in commercial property and asset management, consultancy,
facilities management and commercial property agency business. NB Real Estate
works with investment funds, property companies, institutions and occupiers in
the office, retail and industrial sectors to maximise the investment and
operational value of their real estate.
NB Real Estate made an operating profit of £2.3m on turnover of £44m in the
year to 30 September 2009.
The Capita Symonds and NB Real Estate businesses are highly complementary. This
acquisition will give Capita Symonds an unparalleled full service proposition
across the real estate lifecycle, bringing front end advisory and acquisition,
and ongoing property and estates management expertise to its existing
multidisciplinary project design, development and management capabilities.
Paul Pindar, chief executive of the Capita Group Plc, said: "The acquisition of
NB Real Estate provides Capita with an important additional growth opportunity
in the property services marketplace. The continuing pressure on public service
spending and the wider UK economy will drive more organisations to consider
more innovative and efficient ways to manage their property assets and the NB
Real Estate operation is well placed to fulfil this demand."
The acquired business will continue to trade as NB Real Estate in 2010 while it
is being fully integrated into Capita Symonds.
NB Real Estate has 560 employees and offices in London, Manchester and
For further information please contact:
The Capita Group Plc
Tel: 020 7799 1525
Paul Pindar, Chief Executive
Shona Nichols, Corporate Communications Director
Capita press office
020 7654 2399
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 59 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://