Capita to acquire pensions business of Northgat...
22 July 2011
Capita to acquire pensions business of NorthgateArinso
The Capita Group Plc (`Capita') today announces the acquisition of the trade
and assets of the pensions administration and software business of
NorthgateArinso for a consideration of £27.5 million on a cash-free, debt-free
basis. Following the acquisitions of Gissings, Higham Dunnett Shaw and Aspen
over recent years, this latest deal will add new expertise and added capacity
to Capita's pensions management and administration business, Capita Hartshead.
Capita Hartshead is one of the UK's largest administrators of occupational
pension schemes providing an individually tailored pension scheme management
and administration service.
The specialist pensions business of NorthgateArinso provides both third party
pensions administration and pensions software for in house pensions
departments, to a largely private sector client base, including Aviva, Boots,
Michelin and Rentokil.
The business made a pro forma operating profit for its financial year to 30
April 2011 of £4.7 million on turnover of £10.1 million.
Paul Pindar, chief executive of the Capita Group said: "This acquisition will
both complement our existing administration business and will allow clients
coming to us from NorthgateArinso access to a wider range of specialist pension
services."
The acquired business employs around 90 staff, principally in Bristol, Marlow
and Stoke.
Legal completion will follow a TUPE consultation with employees.
-ends-
For further information please contact:
The Capita Group Plc
Tel: 020 7799 1525
Paul Pindar, Chief Executive
Shona Nichols, Corporate Communications Director
Media enquiries:
Caroline Mooney
Capita press office
Tel: 0207 654 2152 or 0207 654 2399 (out of hours)
Notes to editors:
Capita Hartshead is the leader in the administration of UK Public Sector
pension schemes; and ranks 4th in the administration of UK private sector
pension schemes. It provides an individually tailored pension scheme management
and administration service, as well as integrated pensions solutions to the SME
market, with a range of standard options which include scheme accounting,
member communications, benefits payments and payroll, trustee training and
company secretarial duties. Capita Hartshead also publishes an Annual Pensions
Administration Survey.
Further information on Capita Hartshead can be found at:
www.capitahartshead.co.uk
The Capita Group Plc is the UK's leading provider of BPO and integrated
professional support service solutions. With around 45,000 employees at more
than 350 sites, including 64 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 2010 of £2,744 million. Further
information on The Capita Group Plc can be found at: http://www.capita.co.uk
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