WSP Global Inc. (TSX:WSP) agreed to acquire GL Hearn Limited and Capita (real Estate & Infrastructure) Limited from Capita plc (LSE:CPI) for £69 million on August 1, 2022. Under the terms of agreement, the transaction is taking into account cash-like and debt-like items, Capita expects to receive proceeds of £69 million at completion. The consideration is paid on a cash-free, debt-free basis.

The reported revenue and profit before tax of the two businesses combined for the year to 31 December 2021, were £88.6 million and £5.1 million respectively. The combined gross assets were £124.2m at 31 December 2021. The senior management teams and employees of REI and GLH will remain with their businesses as they transfer to the ownership of WSP.

The sale is subject to certain consents. Capita is being advised on the REI and GLH transaction by Deloitte Corporate Finance. Matthew Davies and Luke Chapman of CMS Cameron McKenna Nabarro Olswang LLP acted as legal advisor to WSP UK Limited.