Capita to buy GL Hearn in £30m deal

8th Jul 2015 09:31

Outsourcer Capita would buy UK property consultancy GL Hearn in a £30m deal, to improve its real estate offer.FTSE 100 listed Capita would pay £25m in cash and a later payment of £5m for the firm which had a turnover of £31.2m in the last financial year.Capita expected to expand the business and achieve a return in excess capital of 15%.Chief executive Andy Parker said GL Hearn would enhance its existing real estate and would help clients add value through commercialisation of existing assets bases.Shares in Capita were up 0.40% to 1256p at 0929 BST on Wednesday.