CAPITA ACQUIRE EUROPEAN ADMINISTRATION BUSINESS OF CAPMARK FINANCIAL GROUP INCORPORATED
The Capita Group Plc (“Capita”), announced today that it has acquired the European loan administration, asset management administration and commercial mortgage backed securities (CMBS) administration services of Capmark Financial Group Inc.
The acquired businesses include Capmark Services Ireland Limited, Capmark Services UK Limited and Capmark Asset Management GmbH (collectively “Capmark Services Europe”). The companies provide administrative services for CMBS securitisations, commercial mortgages, commercial property loans and asset managers from offices based in the UK, Ireland and Germany.
Commenting on the deal, Paul Pindar, The Capita Group Chief Executive said: “The acquisition fits naturally within Capita’s financial services administration operations and will provide us with added breadth and depth of expertise. There are real synergies between both the services and the customers shared by Capmark Services Europe and Capita and the deal also further demonstrates Capita’s commitment to, and investment in, the financial services industry. The increased capacity, particularly in the Republic of Ireland, will help ensure our continued growth in this sector and we expect the acquisition to bring clear benefits to both new and existing customers."
Michael Lipson, head of Capmark’s Global Services business, added: “We are pleased that Capita has acquired the European arm of our commercial property loan administration and services business. We believe the acquisition provides excellent opportunities for growth and development, with the backing of a FTSE 100 company.“
The acquired companies, which have approximately 110 employees, will become part of Capita Fiduciary Group, which has had a presence in Ireland since May 2007. The Capita Group also has other business operations in Dublin with Capita Registrars and Capita Financial Group.
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For further information please contact:
Press enquiries:
Caroline Mooney
Capita press office
Tel: 020 7654 2152 or 020 7654 2399 (out of hours)
Email: caroline.mooney@capita.co.uk
Joyce Patterson
Capmark Financial Group Inc.
Tel: 00 1 215 328 3842
Email: joyce.patterson@capmark.com
Capita Fiduciary Group provides an extensive range of sophisticated trustee, corporate, fund and ancillary services to a wide range of institutional, corporate and private clients worldwide. Their professional and committed employees possess diverse experience, backed by efficient business processes and technology to provide a convenient and client focused service. Capita Fiduciary Group is part of The Capita Group Plc.
The Capita Group Plc is the UK’s leading provider of BPO and integrated professional support service solutions. With 36,000 people at more than 300 sites, including 62 business centres across the UK, Ireland, the Channel Islands and India, the Group uses its expertise, infrastructure and scale benefits to transform its clients’ services, driving down costs and adding value. Capita is quoted on the London Stock Exchange (CPI.L), and is a constituent of the FTSE100 with revenues for 2008 of £2,441 million. Further information on The Capita Group Plc can be found at: http://www.capita.co.uk
Capmark is a diversified company that provides a broad range of financial services to investors in commercial real estate-related assets. Capmark has three core businesses: lending and mortgage banking, investments and funds management, and loan servicing. Capmark operates in North America, Europe and Asia. Further information about Capmark can be found at: http://www.capmark.com