24 February 2018
visit www.ebaday.com

Capita acquires Capmark's European financial services units

05 June 2009  |  4517 views  |  0 handshake

UK outsourcer The Capita Group has acquired the European loan, asset management and commercial mortgage backed securities (CMBS) administration services of US-based Capmark Financial Group for a cash consideration of approximately £10 million.

The acquired businesses provide administrative services for CMBS securitisations, commercial mortgages, commercial property loans and asset managers from offices based in the UK, Ireland and Germany.

On a proforma basis, Capmark Services Europe made an operating profit for the 12 months to 31 December 2008 of approximately £3.8 million on turnover of £11 million.

Paul Pindar, The Capita Group chief executive says the deal underscores the company's commitment to the financial services industry, which currently comprises around seven per cent of its £2.4b group revenues

"The acquisition fits naturally within Capita's financial services administration operations and will provide us with added breadth and depth of expertise," he says. "The increased capacity, particularly in the Republic of Ireland, will help ensure our continued growth in this sector and we expect the acquisition to bring clear benefits to both new and existing customers.'

The acquired companies, which have approximately 110 employees, will become part of Capita Fiduciary Group, which has had a presence in Ireland since May 2007. The Capita Group also has other business operations in Dublin with Capita Registrars and Capita Financial Group.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

AXA names Capita preferred bidder for £500m outsourcing deal

AXA names Capita preferred bidder for £500m outsourcing deal

22 January 2009  |  7398 views  |  0 comments
Steria wins Capita outsourcing deal

Steria wins Capita outsourcing deal

07 January 2009  |  5221 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit www.swift.com/your-needs/instant-paymentsVisit http://info.nice.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
11791 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10325 views 3 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8568 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8089 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7772 views comments | 10 tweets | 14 linkedin

Featured job

Competitive
Hong Kong, Asia-Pacific

Find your next job