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08/07/2015

Capita Acquires Property Consultancy GL Hearn

Capita has acquired GL Hearn in a £30 million deal.

GL Hearn provides commercially driven advice to land owners, developers, house builders, investors, retailers and the public sector.

The agreement includes a cash consideration of £25 million on a cash free, debt free basis plus a deferred consideration of £5 million.

Andy Parker, Capita's Chief Executive, said: "GL Hearn will be a transformative addition to Capita’s property and infrastructure business.

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"Beyond extending and enhancing our existing real estate offer, GL Hearn’s track record and range of expertise will allow us to provide market-leading commercial, technical and strategic advice across the entire development process."

Managing Director of GL Hearn, Brian Sloggett, said: "Following its acquisition by Capita, and over 90 years since it was first founded, GL Hearn has entered into an exciting new phase. It will join forces with Capita‘s real estate business to generate a new and unique powerhouse in the UK property market."

(LM)

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