Government contractor Capita on Friday said it had sold its Trustmarque IT services business to One Equity Partners for £111m as part of its £700m disposals programme.
Taking into account cash-like and debt-like items, Capita expects to receive net proceeds of around £115m at completion. An additional £3m is receivable “contingent on certain future events”.
Capita, which runs services from the London congestion charge to collecting the BBC licence fee, has been on a disposals spree in a bid to boost its coffers. Friday’s sale means it has hit its target earlier than its previous forecast date of June 2022, said chief executive Jon Lewis.
