WSP buys property and infra businesses from Capita

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.

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.

Jon Lewis, Capita’s Chief Executive Officer, said: “We are pleased to have agreed the sale of these two businesses to WSP following a competitive sale process.

“It marks another significant step, as we continue to simplify and strengthen Capita, and become a more successful business for the long term.

“At the same time, our REI and GLH colleagues and clients will join an established industry organisation with plans to take the businesses onto the next stage of their development.”

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