Capita preferred bidder in education joint venture
Outsourcing giant Capita said it was preferred bidder for an educational support services joint venture with Staffordshire County Council.
Outsourcing giant Capita said it was preferred bidder for an educational support services joint venture with Staffordshire County Council.
The joint venture, in which Capita will hold a majority stake, will initially deliver a range of educational support services for schools and academies in the Staffordshire region.
These services are expected to generate revenues of approximately £85m a year over 20 years if the Council's cabinet body gives the plan the thumbs up.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The newly-formed company will also look to secure new local authority, school, academy and further and higher education clients across the UK.
Over the first 10 years, the joint venture is targeting total revenue of at least £2bn.
As part of the agreement, Capita will acquire its stake in the joint venture with an initial investment of £24.9m in the first year and a further £6.6m over the following three years.
Around 3,800 staff are expected to transfer to the newly formed organisation.
"The UK schools education support services market is currently estimated to be worth around £16bn per year," Capita's statement said.
"With changes in Government policy giving education establishments greater freedom of choice over where and how they buy services, there is a significant opportunity for the provision of quality, industry leading support services on a national level."
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?
-
Israel claims victory in the '12-day war' with Iran
Donald Trump may have announced a ceasefire in the 12-day war between Israel and Iran, but what comes next depends on what happens internally in Iran