Grant Thornton advises Capita plc

Capita plc (“Capita”) is one of the UK leaders in business and professional support and out-sourced services.

In 1991 it entered the specialist recruitment market and grew its market presence significantly both organically and through targeted acquisitions. Together the specialist recruitment businesses are now one of the largest public sector recruitment businesses in the UK with 7 brands and a widespread remit across Education, Healthcare and Social Care. In addition, the business has one of the most enviable brands, reputation and heritage in the market.

The Capita board took the decision to divest of their specialist recruitment businesses in early 2017 in order to focus the Group’s attention on its core offering of technology-enabled business process and customer management services.

Recognising our market leading recruitment sector expertise, Capita engaged our team to carve out and dispose of its Education, Healthcare and Social Care specialist recruitment businesses with the objective of completing a swift and successful transaction.

We worked closely with the Capita board in order to understand the key objectives and sensitivities involved with the transaction. The team led a highly targeted and competitive marketing process in order to work with an acquirer to complete the transaction in an effective manner.

In addition to full corporate finance services including modelling and SPA advisory services, the team also provided the following services to assist with the complex nature of the transaction; diligence support in preparing robust carve out accounts completed by our transaction advisory services team; and delivery of a detailed Separation blueprint completed by our business consulting team.

Endless LLP were introduced to the process by us and were eventually chosen as the preferred partner, providing both Capita and the Management team with the desired outcome.

These niche resourcing businesses are well positioned in their specialist markets and will continue to be run by the existing Capita Management team and staff with the added support of Endless LLP.

Our teams provided a full-service offering enabling a seamless and joined-up process for all parties, securing a straight forward carve out for Capita plc.