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Capita buys commercial mortgage administrator

Capita Group has acquired the commercial loan administration Capmark Financial Group.

Capmark deals with asset management administration and commercial mortgage backed securities administration services. The companies within the group provide administrative services for commercial mortgage backed securities, commercial mortgages, commercial property loans and asset managers from offices based in the UK, Ireland and Germany.

Capita Group chief executive Paul Pindar says: “The acquisition fits naturally within Capita’s financial services administration operations and will provide us with added breadth and depth of expertise.

“There are real synergies between both the services and the customers shared by Capmark Services Europe and Capita and the deal also further demonstrates Capita’s commitment to, and investment in, the financial services industry. The increased capacity, particularly in the Republic of Ireland, will help ensure our continued growth in this sector and we expect the acquisition to bring clear benefits to both new and existing customers.”

Capmark’s global services business head Michael Lipson says: “We are pleased that Capita has acquired the European arm of our commercial property loan administration and services business. We believe the acquisition provides excellent opportunities for growth and development.”

The acquired companies have approximately 110 employees will become part of Capita Fiduciary Group.

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