Capula deal given helping hand by regional advisers

LAWYERS at Squire Sanders have advised on a deal that has seen IT services business Capula bought by Dutch technical services provider Imtech for an undisclosed sum.

The Leeds and Manchester offices of Squire Sanders advised Capula on the deal, which was announced this morning.

Capula builds and maintains IT systems that control operations at power stations, water companies, electricity providers and oil and gas suppliers.

Capula recorded a turnover of £40m in 2011 and employs more than 250 engineers across four UK sites.

Imtech has annual revenues in excess of €5.1bn and is listed on the Euronext Stock Exchange as well as the Dow Jones STOXX 600 index.

The acquisition of Capula provides an exit for private equity firm Dunedin following its secondary buyout of the firm in August 2006.

Squire Sanders private equity specialist Giles Chesher, the lead advisor on the deal, said, “Capula is a fantastic business that is in a great position to take advantage of the benefits deriving from this combination.”

Other members of the Squire Sanders team included corporate partner Jonathan Jones, Peter Morley, Stephen Mooney and Jane Saunders.

Clearwater Corporate Finance originated the deal and advised Imtech.

Paul Jones, support services partner, led the deal team for Clearwater and was supported by assistant director John Clarke.