Capita plc (‘Capita’) today announces that it has agreed to sell its enforcement businesses to a group of investors led by Capricorn Capital Partners (Capricorn) and the Shackleton Group (Shackleton).
Operating as Equita, and Ross & Roberts, in England and Wales, and Stirling Park in Scotland, the Enforcement businesses provide a wide range of debt-recovery services in both the public and private sectors.
Capricorn is a private equity company who look to work collaboratively with management teams to grow their businesses and create successful long-term partnerships. Shackleton is a group of South African companies in the insurance and credit management sectors. Its credit management arm is one of the top buyers and collectors of bank debt in South Africa. This deal is part of an international expansion into familiar sectors and geographies.
The senior management team and employees will remain with their businesses when they transfer to the ownership of the investor group on completion.
Capita previously announced its intention to sell a number of non-core businesses to strengthen the balance sheet and focus on its two core divisions, Capita Public Service and Capita Experience. The agreement to sell enforcement follows the completion of several other sales processes this year.
Jon Lewis, Capita’s Chief Executive Officer, said: “We are pleased to have agreed the sale of our enforcement businesses.
“The sale marks another positive step for our successful disposals programme which has enabled us to significantly strengthen the balance sheet and materially reduce our debt.”
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