Advertisement

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.

Advertisement - Article continues below

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."

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/investments/commodities/gold/601444/these-seven-charts-show-exactly-why-you-must-own-gold-today
Gold

These seven charts show exactly why you must own gold today

Covid-19 is accelerating many trends that were already in existence. The rising gold price is one such trend. These seven charts, says Dominic Frisby,…
3 Jun 2020
Visit/investments/stockmarkets/601460/disease-rioting-and-mass-unemployment-so-why-are-markets-soaring
Stockmarkets

Disease, rioting and mass unemployment – so why are markets soaring?

Despite some pretty strong headwinds in the last year, America’s S&P 500 stock index is close to all-time highs. John Stepek explains why markets seem…
4 Jun 2020
Visit/investments/commodities/601433/commodities-possibly-the-biggest-opportunity-in-todays-markets
Commodities

This looks like the biggest opportunity in today’s markets

With low interest rates and constant money-printing, most assets have become expensive. But one major asset class hasn’t. John Stepek explains why com…
2 Jun 2020