Capita PLC Capita announces the disposal of ParkingEye

 
TIDMCPI 
 
Capita announces the disposal of ParkingEye 
 
Capita plc (Capita) announces today that it has reached an agreement to sell 
its parking management business, ParkingEye, to a vehicle owned by Macquarie 
and funds advised by MML Capital Partners for a cash consideration of GBP235m. 
The transaction is expected to close later this year. 
 
The transaction is in line with Capita's strategy of simplifying the business, 
focusing on growth markets and disposing of non-core businesses. 
 
ParkingEye's underlying revenue and operating profit were GBP40m and GBP14m 
respectively in the year to 31 December 2017 and the business had gross assets 
of GBP22m. In Capita's half year results, ParkingEye will be reported as a 
business exit in non-underlying items. The cash proceeds will be used to reduce 
net indebtedness. 
 
Jon Lewis, Chief Executive Officer, Capita, said "This transaction marks a 
further step in executing the strategy announced in April aimed at simplifying 
and strengthening the business to deliver future success. 
 
Together with the four disposals already completed this year, we now expect to 
raise more than GBP400m from non-core disposals in 2018, well ahead of our target 
of GBP300m." 
 
Goldman Sachs International acted as Capita's sole financial advisor on the 
transaction. 
 
This announcement contains inside information. 
 
ENDS 
 
Notes to editors: 
 
ParkingEye is the leading provider of Automatic Number Plate Recognition (ANPR) 
enabled car park management in the UK, providing car park management and 
enforcement services on behalf of clients across a number of sectors including 
retail, hospitality, education and the NHS. 
 
Capita's non-core disposal programme this year includes four completed 
transactions: Supplier Assessment Services for GBP160m, Capita Specialist 
Insurance Services Ltd for GBP16m, Projen Ltd for GBP2.75m and Medicals Direct 
Group Ltd for GBP2.7m. 
 
                                     ENDS 
 
Investor enquiries 
 
Andrew Ripper, Head of Investor Relations 
Fiona O'Nolan, IR Director 
 
Tel: [phone] 7654 2281 
Email: [e-mail] 
 
Media enquiries 
 
Capita press office 
Tel: [phone] 
Email: [e-mail] 
 
Capita is a leading provider of technology enabled business services, operating 
across five key markets: Software; People Solutions; Customer Management; IT 
Services and Government Services. Working across the UK, Europe, India and 
South Africa, we use our expertise, talent and technology to partner with our 
clients to transform services and add value for all their stakeholders. Capita 
is quoted on the London Stock Exchange (CPI.L). Further information on Capita 
can be found at: http://www.capita.com 
 
Goldman Sachs International, which is authorised by the Prudential Regulation 
Authority and regulated by the Financial Conduct Authority and the Prudential 
Regulation Authority in the UK, is acting exclusively for Capita plc and no one 
else in connection with the potential sale of Supplier Assessment Services 
Limited and any other matter referred to in this announcement and will not be 
responsible to anyone other than Capita plc for providing the protections 
afforded to clients of Goldman Sachs International, or for providing advice in 
relation to the potential sale of Supplier Assessment Services Limited or any 
other matter referred to in this announcement. 
 
LEI no. CMIGEWPLHL4M7ZV0IZ88. 
 
 
 
END 
 

(END) Dow Jones Newswires

July 12, 2018 02:00 ET (06:00 GMT)