Advisory news: Capita Asset Services sold, Murja rebranded, new financial services business launched
Capita Asset Services
Capita has sold its asset services business – which includes its housing treasury division – to Australian data company Link.
The sale of the entire asset services business completed in November 2017 for a cash free and debt free consideration of £888m.
The division includes the treasury solutions team, formerly of Sector Group.
A Link spokesperson said the housing treasury and debt solutions teams “remain core to our business as they operate at the heart of a number of critical market drivers such as the provision of social & broader infrastructure, the ongoing search for investment alpha; and the evolving financial landscape”.
He added that Link is “committed to delivering enhanced client value through ongoing investment in technology, people and processes”.
Capita decided to sell the division after a group-wide review, saying it no longer fitted the core business strategy.
Murja rebrands as ATFS
Treasury advisor Murja has rebranded as Aquila Treasury Finance & Solutions (ATFS).
ATFS will form the treasury and finance service of housing consultancy Altair.
Both firms are wholly owned subsidiaries of Aquila Services Group.
David Mairs, managing director of ATFS said the firm will be "fully integrated as a key element of the Aquila Group’s offer to its clients", combining treasury advisory services with the finance solutions offered by Altair and creating an extended team offering a “one stop shop for treasury and finance solutions”.
Aquila has also acquired Pod development and financial modelling, a multi-disciplinary construction and regeneration consultancy. It purchased Pod consultancy for £1.71m, including its development consultancy and ‘podplan’, a bespoke development scheme appraisal model.
The team of 13 takes the Aquila group to almost 50 permanent employees.
Just Housing Group
Housing and support services provider – Just Housing Group (JHG) - has launched a new financial services consultancy.
It said the move further complements its existing services including consultancy, surveying, interim management and recruitment.
It will be led by Simon Smith, who has provided consultancy services to local authorities and registered providers over the past 15 years and was formerly FD at Octopus QSH.
It will include assisting clients with financial reviews, benchmarking, operational reviews and new trading company appraisals.
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