WSP buys property and infra businesses from Capita

Grant Prior 3 years ago
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Capita has agreed to sell two real estate and infrastructure consultancy businesses to WSP for £60m.

The move will see new owners for Capita Real Estate and Infrastructure (REI) and GL Hearn (GLH).

REI provides specialist advisory, design, engineering, environmental and project management services for land, building and infrastructure owners.

GLH provides advice to real estate developers, investors and occupiers across areas including planning and development, rating, valuation and occupier services.

The reported revenue and profit before tax of the two businesses combined for the year to 31 December 2021 were £88.6m and £5.1m respectively. The combined gross assets were £124.2m at 31 December 2021.

The senior management teams and employees of both firms will remain with their businesses as they transfer to the ownership of WSP adding around 1,000 new staff to the company.

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.

Mark Naysmith, CEO of WSP UK, Europe, Middle East and Africa said: “In line with our strategic ambitions, this acquisition will boost our expertise in our core markets, including transport, building, and environment.

“It will also help us to diversify our strategic advisory services into adjacent markets.”

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