5th Sep 2007 09:07
Capita Group PLC05 September 2007 CAPITA 5 September 2007 CAPITA ACQUIRES PENSIONS FIRM HIGHAM DUNNETT SHAW The Capita Group plc ("Capita") today announces the acquisition of HighamDunnett Shaw (HDS) for a consideration of £15 million on a cash free/debt freebasis. The acquisition will add valuable new expertise and added capacity toCapita Hartshead's core pensions management and administration business. Capita Hartshead is the largest specialist pensions administration organisationin the UK providing an individually tailored pension scheme management andadministration service. The acquisition of HDS will enhance its ability todeliver technically challenging pensions administration, consultancy andactuarial services to corporate clients. HDS's operating profit for the 12 months ended 31 December 2007 is forecast tobe £2.0m on turnover of £21.1m. Paul Pindar, Chief Executive of the Capita Group Plc said: "The acquisition ofHigham Dunnett Shaw will enhance and broaden Capita Hartshead's position in thepensions administration market. Its current business provides a number ofsynergies with our existing service - for example in Pension Protection Fundsupport services. And it adds important new services, such as expertise in thebulk purchase annuities market which is becoming increasingly important. We areconfident that the acquisition will enable us to provide a full end-to-endservice for clients of all sizes and achieve significant economies of scale. " Jocelyn Blackwell, Chief Executive Officer of HDS, said: "HDS has a longtrack-record of designing and implementing efficient, cost-effective, andtechnically compliant solutions to the requirements that flow from major changesin the life and pensions sector. Over the last five years it has built asubstantial business from a base of pension wind-ups, and pensions mis-sellingand, in addition to these core services have now established a capability inthree developing markets that present significant value-add growthopportunities; customer retention, pension transition services and PensionProtection Fund (PPF) assessment. Being part of Capita Hartshead will enable usto realise our full potential in these markets." HDS employs around 260 staff located across four cities - London, Edinburgh,Telford and Leeds. -ends- For further information please contact:Paul Pindar, Chief ExecutiveShona Nichols, Corporate Communications DirectorTel: 020 7799 1525 Media enquiries:Caroline MooneyCapita press officeTel: 0207 654 2152 or 0870 2400 488 (out of hours) Notes to editors: The Capita Group Plc is the UK's leading provider of integrated professionalsupport service solutions. The Group's service capabilities encompass businessprocess outsourcing, (BPO), customer services, administration and support, humanresources, ICT, property consultancy, finance & treasury and consultancydelivered to both public sector and private organisations. With 27,800 employeesat more than 250 offices across the UK, Channel Islands, Ireland and India,Capita is quoted on the London Stock Exchange (CPI.L), and is a constituent ofthe FTSE100 with revenues for 2006 of £1,739 million. Further information on The Capita Group Plc can be found at: www.capita.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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