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Capita Sells Real Estate and Infrastructure Consultancy Businesses to WSP

Capita Sells Real Estate and Infrastructure Consultancy Businesses to WSP
03 August 2022
 

WSP will acquire two real estate and infrastructure consultancy businesses from Capita: GL Hearn Ltd and Capita REI.

Capita expects to receive proceeds of around £69 million when the deal is completed in approximately 6 to 8 weeks.

The senior management teams and employees of Capita Real Estate & Infrastructure Ltd (Capita REI) and GL Hearn Ltd. (GLH) will remain as they transfer to the ownership of WSP. This will add around 1,000 UK-based employees to WSP’s workforce.

Capita previously announced that it would sell a number of its businesses, to focus on its two core divisions, Capita Public Service and Capita Experience. The agreement to sell REI and GLH follows the completion of four other sales processes in 2022 for the business: Secure Solutions and Services, AMT Sybex, two speciality insurance businesses, and Trustmarque.

Jon Lewis, Capita’s Chief Executive Officer, said: “We are pleased to have agreed the sale of these two businesses to WSP following a competitive sale process. It marks another significant step, as we continue to simplify and strengthen Capita, and become a more successful business for the long term.

 

Capita REI and GLH – Background Information

 

REI provides specialist advisory, design, engineering, environmental and project management services for land, building and infrastructure owners.

GLH is a real estate business that advises developers, investors and occupiers across areas including planning and development, rating, valuation and occupier services.

The reported revenue and profit before tax of the two businesses combined for the year to 31 December 2021 were £88.6 million and £5.1 million respectively. The combined gross assets were £124.2 million on 31 December 2021.

Picture: a photograph of the top floor of a building, showing windows and a balcony. Image Credit: Unsplash

Article written by Ella Tansley | Published 03 August 2022

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