Dunedin sells Capula to Dutch trade buyer Imtech

Imtech acquired Capula at a multiple in excess of 7x its 2011 operating profit of £4.7m, valuing the deal at more than £33m.

In August 2006, Dunedin acquired a 70% stake in Capula for £30m from Bridgepoint. Dunedin invested £15.6m in equity, while Barclays Leveraged Finance provided £14.5m in debt.

This is the second exit for Dunedin this month. Last week, unquote" reported the sale of military equipment manufacturer WFEL that generated a 2.4x multiple for the GP.

Company
Capula is British provider of IT systems solutions for the energy and utility market. Its product range includes real-time information systems for power stations, nuclear facilities and water networks.

Between 2010 and 2011, Capula's turnover has grown by 49%; it is expected to grow by 24% in 2012. The company's client base includes Thames Water, EDF Energy, Drax Power, URENCO and National Grid.

The company has recently entered the market for data management systems for the production of energy from waste and biomass.

People
Mark Ligertwood, partner, led the exit on behalf of Dunedin. Roger Turner is CEO of Capula.

Advisers
Aquirer - Clearwater Corporate Finance, Paul Jones, John Clarke (Corporate finance).
Company – Harris Williams & Co (Corporate finance); Squire Saunders, Giles Chesher (Legal).
 

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• Topics
• Exits
• Technology
• UK / Ireland
• Dunedin
• Netherlands
• Trade sale
• United Kingdom