Categories:Pensions

Walker Morris advises Capita on pensions aspect of NMS acquisition

Walker Morris’s pensions team has advised Capita on the pensions aspect of its acquisition of Northgate Managed Services (NMS) from Northgate Information Solutions for an enterprise value of £65m. The team was led by Walker Morris partner Jo Ratcliffe.

The £65m comprises £22m payable in cash consideration and, in addition, the assumption by Capita of a pension deficit of £17m net of tax relief and finance leases for equipment used in the business of £26m.

NMS provides cloud-based infrastructure solutions and specialist managed services to public, private and third-sector businesses.

Completion of the transaction is subject to approvals from the necessary parties.

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