Capita acquires business travel company
23 December 2010
CAPITA ACQUIRES BUSINESS TRAVEL COMPANY
The Capita Group Plc (`Capita') announces today that it has acquired BSI
Holdings Limited (`BSI') for a consideration of £42.5 million on a cash-free,
debt-free basis. BSI is a hotel booking and meetings management agency with
clients in both the public and private sector.
The acquisition will more than double the size of the wider Capita Group's
existing operations in the business travel market and add significant new
accommodation and meetings management capabilities, particularly in terms of
hotel and conference room services. BSI's current clients include Marks and
Spencer, Easyjet and the Crown Prosecution Service.
BSI made a pro forma operating profit for its financial year to 30 June 2010 of
£3.9 million on turnover of £12.3 million.
Commenting on the deal, Paul Pindar, Chief Executive of The Capita Group Plc
said: "This acquisition will make Capita's business travel offering one of the
top five, by size, in the UK business travel market. Post acquisition the
combined businesses will be able to offer a unique and end-to-end travel
proposition to our current and future clients. In particular, with central
government looking to significantly drive down travel and subsistence costs for
public sector workers, we will be in a strong position to help achieve these
aims both in terms of greater overall efficiency and reduced unit costs."
BSI has around 300 employees, mainly in Taunton, London, Nottingham and
Cheadle.
-ends-
For further information:
The Capita Group Plc
Tel: 020 7799 1525
Paul Pindar, Chief Executive
Shona Nichols, Corporate Communications Director
Media enquiries
Capita press office
Caroline Mooney
Tel: 0207 654 2152 or 020 7654 2399 (out of hours)
Notes to editors
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 2009 of £2,687 million. Further
information on The Capita Group Plc can be found at: http://www.capita.co.uk
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