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  • FIRST POST
    • trisontana
    • By trisontana 12th Jul 18, 2:04 PM
    • 8,991Posts
    • 13,862Thanks
    trisontana
    Parking Eye Sold
    • #1
    • 12th Jul 18, 2:04 PM
    Parking Eye Sold 12th Jul 18 at 2:04 PM
    Thanks to the OP on PePiPoo who posted this:-

    https://otp.tools.investis.com/clients/uk/capita_plc/rns/regulatory-story.aspx?cid=3&newsid=1113198

    Capita plc (Capita) announces today that it has reached an agreement to sell its parking management business, ParkingEye, to a vehicle owned by Macquarie and funds advised by MML Capital Partners for a cash consideration of £235m. The transaction is expected to close later this year.

    The transaction is in line with Capita’s strategy of simplifying the business, focusing on growth markets and disposing of non-core businesses.

    ParkingEye’s underlying revenue and operating profit were £40m and £14m respectively in the year to 31 December 2017 and the business had gross assets of £22m. In Capita’s half year results, ParkingEye will be reported as a business exit in non-underlying items. The cash proceeds will be used to reduce net indebtedness.
    What part of "A whop bop-a-lu a whop bam boo" don't you understand?
Page 1
    • Umkomaas
    • By Umkomaas 12th Jul 18, 2:08 PM
    • 19,501 Posts
    • 30,849 Thanks
    Umkomaas
    • #2
    • 12th Jul 18, 2:08 PM
    • #2
    • 12th Jul 18, 2:08 PM
    the business had gross assets of £22m
    I wonder how much of that is unpaid parking charges?

    I anticipate an even more aggressive approach by PE as their new masters will want as large as possible a return for their outlay. They're hardly going to say 'You need to change your foul image, so soften your approach'!

    Not a bad business deal for Crapita - paid £57m, sold for £235m.
    Last edited by Umkomaas; 12-07-2018 at 2:11 PM.
    The fact that I have commented on your thread does not mean I have become your personal adviser. A long list of subsequent questions addressed for my personal attention is unlikely to receive a reply.
    Give a man a fish, and you feed him for a day; show him how to catch fish, and you feed him for a lifetime.
    • IamEmanresu
    • By IamEmanresu 12th Jul 18, 2:12 PM
    • 3,310 Posts
    • 5,576 Thanks
    IamEmanresu
    • #3
    • 12th Jul 18, 2:12 PM
    • #3
    • 12th Jul 18, 2:12 PM
    Jeez. Nearly 17 times profit on assets of 22

    There must be a second set of books somewhere or Capita saw them coming.
    If you want to win - avoid losing first. Here are a few examples
    1. Failing to Acknowledge or Defend https://forums.moneysavingexpert.com/showthread.php?t=5760415
    2. Template defences that say nothing https://forums.moneysavingexpert.com/showthread.php?t=5818671&page=5#86
    3. Forgetting about the Witness Statement
    • Umkomaas
    • By Umkomaas 12th Jul 18, 2:34 PM
    • 19,501 Posts
    • 30,849 Thanks
    Umkomaas
    • #4
    • 12th Jul 18, 2:34 PM
    • #4
    • 12th Jul 18, 2:34 PM

    There must be a second set of books somewhere or Capita saw them coming.
    Originally posted by IamEmanresu
    Or the greedy new owners' eyes are revolving like the wheels on a one arm bandit with £ signs everywhere.
    The fact that I have commented on your thread does not mean I have become your personal adviser. A long list of subsequent questions addressed for my personal attention is unlikely to receive a reply.
    Give a man a fish, and you feed him for a day; show him how to catch fish, and you feed him for a lifetime.
    • Weasel_Watcher
    • By Weasel_Watcher 12th Jul 18, 2:39 PM
    • 55 Posts
    • 49 Thanks
    Weasel_Watcher
    • #5
    • 12th Jul 18, 2:39 PM
    • #5
    • 12th Jul 18, 2:39 PM
    Do the new ownwers not realise that there's a real chance of new regulation on the horizon that could render their operating model (i.e. scamming motorists) profitless?


    Either they are real idiots, or they know something we don't. Hopefully it's the former.
    • Coupon-mad
    • By Coupon-mad 12th Jul 18, 2:40 PM
    • 61,760 Posts
    • 74,676 Thanks
    Coupon-mad
    • #6
    • 12th Jul 18, 2:40 PM
    • #6
    • 12th Jul 18, 2:40 PM
    It will never be profitless. Too many fat cat noses in the trough.

    Too many handshakes by suits who knew other suits from whichever private school.
    PRIVATE 'PCN'? DON'T PAY BUT DON'T IGNORE IT UNLESS IN SCOTLAND OR NI
    TWO Clicks needed Look up, top of the page:
    Main site>>Forums>Household & Travel>Motoring>Parking Tickets Fines & Parking - read the NEWBIES THREAD
    • IamEmanresu
    • By IamEmanresu 12th Jul 18, 3:28 PM
    • 3,310 Posts
    • 5,576 Thanks
    IamEmanresu
    • #7
    • 12th Jul 18, 3:28 PM
    • #7
    • 12th Jul 18, 3:28 PM
    MML's phone will be ringing off the hook with those ratios. Excel worth £100mn?.

    They'll all be looking at how much they can sell out at.
    If you want to win - avoid losing first. Here are a few examples
    1. Failing to Acknowledge or Defend https://forums.moneysavingexpert.com/showthread.php?t=5760415
    2. Template defences that say nothing https://forums.moneysavingexpert.com/showthread.php?t=5818671&page=5#86
    3. Forgetting about the Witness Statement
    • pogofish
    • By pogofish 12th Jul 18, 3:30 PM
    • 8,894 Posts
    • 9,255 Thanks
    pogofish
    • #8
    • 12th Jul 18, 3:30 PM
    • #8
    • 12th Jul 18, 3:30 PM
    Do the new ownwers not realise that there's a real chance of new regulation on the horizon that could render their operating model (i.e. scamming motorists) profitless?
    Originally posted by Weasel_Watcher
    I don't think Macquarie will particularly care - Their main sphere of operation seems to be in the world of "Shadow Banking" - ie the unregulated end of the banking sector, offering high-risk/high-interest loans, junk bond releases,"pump and dump" schemes, high pressure selling, lies and bluster.

    Pretty much cowboys, who sound like the perfect bedfellows for PE IMO.
    Last edited by pogofish; 12-07-2018 at 3:34 PM.
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