Capita PLC - London-based process outsourcing and professional services company - Completes sale of resourcing businesses - Capita Resourcing, HR Solutions and ThirtyThree - to Inspirit Capital for an initial payment of around GBP17 million. Says it will receive a further deferred consideration of around GBP7 million from the sale of its resourcing businesses on November 30. The money received after transaction costs will be used to strengthen the balance sheet and reduce debt. Inspirit Capital is the trading name of Inspirit Management Ltd.
Also announces the completion of sale of its Security Watchdog business to Matrix for GBP14 million. Matrix is owned by Bridgepoint Development Capital, which in turn is part of Bridgepoint Group PLC.
On Thursday last week, Capita confirmed two contracts with government departments worth GBP565 million for services across the UK, alongside confirming the sale of its subsidiary PageOne to Dublin-based private equity company Erisbeg Holdings Ltd.
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By Greg Rosenvinge, Alliance News reporter
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