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  • FIRST POST
    • trisontana
    • By trisontana 12th Jul 18, 2:04 PM
    • 8,969Posts
    • 13,793Thanks
    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
    • 18,352 Posts
    • 29,040 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.
    We cannot provide you with a silver bullet to get you out of this. You have to be in for the long run, and need to involve yourself in research and work for you to get rid of this. It is not simple. We will help, but can't do it for you.

    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
    • 2,735 Posts
    • 4,731 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.
    About me: Capricorn. Likes: Tight defences, the tighter the better. Lucidity. Dislikes: Loquaciousness and magic words. WLTM: Someone with the facts, a private income and their own copy of the White Book.
    • Umkomaas
    • By Umkomaas 12th Jul 18, 2:34 PM
    • 18,352 Posts
    • 29,040 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.
    We cannot provide you with a silver bullet to get you out of this. You have to be in for the long run, and need to involve yourself in research and work for you to get rid of this. It is not simple. We will help, but can't do it for you.

    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
    • 50 Posts
    • 45 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
    • 59,444 Posts
    • 72,604 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 DO NOT IGNORE IT TWO Clicks needed for advice:
    Top of the page: Home>>Forums>Household & Travel>Motoring>Parking Tickets, Fines & Parking - read the 'NEWBIES' FAQS thread!
    Advice to ignore is WRONG, unless in Scotland/NI.

    • IamEmanresu
    • By IamEmanresu 12th Jul 18, 3:28 PM
    • 2,735 Posts
    • 4,731 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.
    About me: Capricorn. Likes: Tight defences, the tighter the better. Lucidity. Dislikes: Loquaciousness and magic words. WLTM: Someone with the facts, a private income and their own copy of the White Book.
    • pogofish
    • By pogofish 12th Jul 18, 3:30 PM
    • 8,711 Posts
    • 9,065 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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