Capita acquires debt recovery specialist iQor

FTSE 100-listed business process management provider Capita has acquired debt recovery specialists iQor Holdings UK and subsidiaries (iQor UK) from its US parent company, for an enterprise value of 42m pounds.

FTSE 100-listed business process management provider Capita has acquired debt recovery specialists iQor Holdings UK and subsidiaries (iQor UK) from its US parent company, for an enterprise value of 42m pounds.

This comprises a cash consideration of £40.5m on a cash free, debt free basis and the assumption by Capita of a pension deficit of £1.5m net of tax relief.

iQor UK, which employs 450 people, provides outsourced debt collection services to the public and private sectors in the UK. The company made an operating profit on a pro forma basis for the year to December 31st of £6.5m on turnover of £21.8m.

Paul Pindar, Chief Executive Officer of Capita, said: "The acquisition of iQor UK will enhance both the collections part of our customer management business and our wider debt management capability, providing us with in house 'late stage' debt recovery expertise alongside our existing early and final stage businesses."

Capita's share price was up 1.88% to 839p at 09:00 on Friday.

MF

Recommended

Has the “jam tomorrow” bubble popped already?
Stockmarkets

Has the “jam tomorrow” bubble popped already?

Fund managers have had a good year so far. John Stepek looks at what to expect from markets until year end.
6 Dec 2021
Three stocks that should profit from the dash for digital growth
Share tips

Three stocks that should profit from the dash for digital growth

Professional investor Christopher Versace of the Digital Infrastructure and Connectivity UCITS ETF picks three digital growth stocks to buy now.
6 Dec 2021
JD Wetherspoon: why investors should head to the pub
Trading

JD Wetherspoon: why investors should head to the pub

Pub group JD Wetherspoon is a solid operator, and is due a bounce when the pandemic eases. Matthew Partridge picks the best way to play it.
6 Dec 2021
Share tips of the week – 3 December
Share tips

Share tips of the week – 3 December

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
3 Dec 2021

Most Popular

Bubbles grow in global property markets as house prices continue to rise
Property

Bubbles grow in global property markets as house prices continue to rise

House prices grew by 6% in the year to mid-2021 in 25 global cities, with the German property market in particular showing signs of overheating.
3 Dec 2021
Investing in time
Sponsored

Investing in time

SPONSORED CONTENT – Watch collecting can be addictive and expensive, but it can also be a very sound investment strategy
3 Dec 2021
Three safe bets on the growing online gambling sector
Share tips

Three safe bets on the growing online gambling sector

Professional investor Aaron Fischer, creator of the Fischer Sports Betting and iGaming ETF, picks three of his favourite online gambling stocks.
29 Nov 2021