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Prices & Quotes - UK Markets - Capita (CPI)

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Share Price:
Down 45.24p
Change Today:
-1.76p
Market Cap:
755.04m
Sector:
Support Services

Capita to sell education business to Montagu Private Equity

By Michele Maatouk

Date: Monday 14 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Outsourcer Capita has agreed to sell its Education Software Solutions business to Tiger UK, a newly-formed company established by funds advised by Montagu Private Equity.
Capita announced earlier this year that it was looking to sell ESS, which is a standalone provider of management information system and related software for the education sector.

As part of the deal, Montagu has also agreed to invest in ParentPay, a provider of education technology. Following successful completion of both investments, ESS will become part of the ParentPay Group, Capita said.

Montagu will pay 298m on completion, which is expected early next year. An additional 45m will be paid once Montagu's agreed investment in ParentPay has achieved regulatory approvals.

Proceeds from the transaction will be used to strengthen Capita's balance sheet and 50m will be used to replace the remaining value of an asset-backed financing agreement, relating to intellectual property developed by ESS, which was entered into in 2012 with the Capita pension scheme.

Chief executive Jon Lewis said: "We are pleased to have agreed the sale of ESS to Montagu Private Equity after a comprehensive auction process.

"ESS is a business that Capita originally bought for 10m so we have created significant value over 25 years of ownership."

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Capita Market Data

Currency UK Pounds
Price 45.24p
Change Today -1.76p
52 Week High 135.15p
52 Week Low 23.72p
Volume 12,817,923
Shares Issued 1,668.97m
Market Cap 755.04m

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What The Brokers Say

Strong Buy 2
Buy 0
Neutral 4
Sell 0
Strong Sell 1
Total 7
neutral
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Capita Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Oct-17 25-May-17
Paid 30-Nov-17 03-Jul-17
Amount 11.10p 20.60p

Trades for 26-Feb-2021

Time Volume / Share Price
16:35 2,257,335 @ 45.24p
16:29 1,809 @ 45.34p
16:29 98 @ 45.11p
16:29 9 @ 45.38p
16:29 147 @ 45.38p

Capita Key Personnel

Chair Ian Powell
CEO Jonathan (Jon) Lewis