Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Wait for the weekend stock tips it will go ballistic on Monday. Hold!
MM's desperate for stock
Spread is a joke MM's playing games. Bidding much higher for stock is going only one way for the next few days...
Net debt of £90m to net cash position of £29m is great. Balance sheet in a much much better position (due to the raise obviously but still so much stronger). P&L a little disappointing for me but still happy to hold for the recovery.
Private equity-backed GardaWorld ramps up £3bn bid for G4S
Canadian group says UK security company has ‘dismissed or ignored’ 3 takeover attempts in 3 months
G4S £3BN bid today. Speculation around Capita two weeks ago.
https://www.ft.com/content/7fe2679d-176f-4384-a969-1122ab9f0c28
Another article:
Exclusive: iSAMS shareholders explore sale options as Capita SIMS auction triggers wave of consolidation in MIS market
The auction of iSAMS will be launched against a backdrop in which numerous UK-based MIS providers are exploring sales, mergers and capital raises.
This week, EducationInvestor Global exclusively reported that Bain Capital and TPG Capital had tabled first-round bids for London-listed Capita’s Education Software Solutions (ESS) unit, which encompasses SIMS, an MIS provider used by around 80% of UK schools. Capita ESS is expected to fetch upwards of £500 million at auction
https://www.educationinvestor.co.uk/ShowArticle.aspx?ID=9850&search=capita%20ess
https://www.educationinvestor.co.uk/ShowArticle.aspx?ID=9845&search=capita%20ess
Two private equity behemoths are expected to today table preliminary offers for London-listed Capita’s Education Software Solutions (ESS) division as bankers collect first-round bids from a host of suitors, EducationInvestor Global can reveal.
This publication has learnt that Bain Capital and TPG Capital are among several bidders vying over control of Capita ESS – whose SIMS platform is the UK’s largest school management information system (MIS) provider – which is expected to fetch upwards of £500 million.
The values of the offers being placed by Bain and TPG are unclear.
According to multiple sources, bankers at Goldman Sachs, which is marshalling the sale of Capita ESS, set today, 1 September, as the deadline for first-round bids.
News due soon on bidders For ESS
This publication has learnt that Bain Capital and TPG Capital are among several bidders vying over control of Capita ESS – whose SIMS platform is the UK’s largest school management information system (MIS) provider – which is expected to fetch upwards of £500 million.
The values of the offers being placed by Bain and TPG are unclear.
According to multiple sources, bankers at Goldman Sachs, which is marshalling the sale of Capita ESS, set today, 1 September, as the deadline for first-round bids.
One insider said that Montagu Private Equity, a European buyout house which in March acquired a stake in university operator Galileo Global Education, had been “very keen” on Capita ESS – though it was unclear whether it would also be mounting a bid.
Another source said that “I would be surprised if more than three or four bidders make it into the second round” – suggesting stiff competition among a small number of suitors could ensue.
An insider said that TPG had hired advisors in August to help it formulate a bid. Bain is expected to draft in advisors next week, if it progresses into the second round, a source said.
A spokesperson for Bain declined to comment. TPG and Goldman Sachs had not responded to requests for comment at the time of publication.
https://www.educationinvestor.co.uk/ShowArticle.aspx?ID=9845&search=Ess
Exclusive: Private equity giants mount first-round bids for Capita ESS
Two private equity behemoths are expected to today table preliminary offers for London-listed Capita’s Education Software Solutions (ESS) division as bankers collect first-round bids from a host of suitors, EducationInvestor Global can reveal.
This publication has learnt that Bain Capital and TPG Capital are among several bidders vying over control of Capita ESS – whose SIMS platform is the UK’s largest school management information system (MIS) provider – which is expected to fetch upwards of £500 million.
The values of the offers being placed by Bain and TPG are unclear.
According to multiple sources, bankers at Goldman Sachs, which is marshalling the sale of Capita ESS, set today, 1 September, as the deadline for first-round bids.
One insider said that Montagu Private Equity, a European buyout house which in March acquired a stake in university operator Galileo Global Education, had been “very keen” on Capita ESS – though it was unclear whether it would also be mounting a bid.
Another source said that “I would be surprised if more than three or four bidders make it into the second round” – suggesting stiff competition among a small number of suitors could ensue.
An insider said that TPG had hired advisors in August to help it formulate a bid. Bain is expected to draft in advisors next week, if it progresses into the second round, a source said.
A spokesperson for Bain declined to comment. TPG and Goldman Sachs had not responded to requests for comment at the time of publication.
This publication exclusively revealed in June that Capita – whose share price is down more than 80% year-to-date – had launched an auction of Capita ESS, which generates EBITDA of around £50 million a year and is widely considered to be one of its parent’s most cash-generative assets.
A sale of Capita ESS would provide a liquidity boost to Capita, which sources have suggested could be struggling to service its debt amid a crisis that has rocked corporations of varying ilk and caused cash crunches across practically every industry. When Capita publicly confirmed EducationInvestor Global’s report, its share price climbed more than 15%.
A bid by California-headquartered TPG for Capita ESS signals a desire to step back into the education sector, which it exited in late 2018 when it broke apart Times Higher Education and TES Global, selling the former to Inflexion Private Equity and the latter to Providence Equity Partners.
Boston-based Bain, which oversees more than $100 billion of assets, owns Only About Children, an Australian childcare provider, and Penn Foster, a for-profit college in Pennsylvania, which it acquired from Vistria Group around two years ago.
Capita SIMS, which stands for school information management system, is a back-end service developed in the early 1980s that allows schools to collect and monitor data on student attainment, parental eng
03-Sep-20 Capita (CPI) Jefferies Buy - 105.00 Reiteration
Price holding up despite CPI saying no offer.
Market realised just how cheap this is if not a takeover then at least £700 million coming for ESS
"One City investor said yesterday the office cuts ‘looked like a defence plan’ to ward off opportunistic buyers and convince Capita shareholders that the company is making changes."
"The second suitor is understood to be interested in buying Capita’s education software division, which the group put up for sale this summer"
Capita is hoping that the sale of its education software division will help raise some cash. Analysts think the division alone could fetch up to £700million, already doubling the company’s market value.
Capita confirmed it had received ‘strong expressions of interest’ in the unit earlier this month, but CVC will likely want to take over the whole business and sell off the education division itself to ensure it gets the best price.
+12% on open already 50% of yesterday’s traded volume
NM
“But CVC, one of Europe’s largest private equity businesses which has previously owned Formula One and Legoland operator Merlin Entertainments, could face competition from a rival predator.
The second suitor is understood to be interested in buying Capita’s education software division, which the group put up for sale this summer.
The interest could spark a bidding war for one of Britain’s biggest employers.“
Potential to have a similar reaction to what happened with The AA share price with private equity interest.