Dentons has advised Capita plc (Capita), a modern outsourcer that assists clients across the public and private sectors in running complex business processes more efficiently, on the sale of its mortgage servicing business assets owned by Capita plc entity Western Mortgage Services Limited (WMSL) to Topaz Finance Limited. Topaz Finance Limited, owned by Computershare the global leader in financial services administration, is an experienced UK-based mortgage lender and administrator, supporting homeowners and buy-to-let landlords.
The sale is expected to be completed in Q2 2025, subject to a number of operational completion conditions, with the staff and offices of the WMSL mortgage servicing business transferring to the buyer upon completion.
The sale of the WMSL mortgage servicing business assets follows an evaluation that identified activities not core to Capita’s future strategy that are being ‘managed for value’. Capita’s strategy to manage for value focuses on improving the financial performance of the Group by prioritising margin improvement, cash generation, and revenue growth.
Ali Sayyah, Corporate Development Director at Capita commented, “The Dentons team has been instrumental in achieving the successful outcome of this deal, and we are grateful for their expertise, tireless efforts and dedication throughout the process.”
Neil Nicholson, UK Corporate partner at Dentons commented, “We’re very pleased to have played a key role in supporting Capita’s strategic initiatives. Our team’s dedication and M&A expertise have once again delivered great results for our valued client.”
The multi-practice Dentons team advising Capita was led by Corporate partner Michael Snook, together with relationship partner Neil Nicholson, Corporate Associate Abby Dorani, Banking partner Peter Voisey, Banking associate Stjepan Klinar, Tax partner Lorna McCaa, Tax counsel Alastair McLeod, Tax associate Guy Vouha, Employment partner Elouisa Crichton, Employment senior associate Aggie Salt, Pensions partner Carolyn Saunders and Pensions associate Jee-Young Song.
