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Coxell looking at buying Capita arms

Former Capita managing director of wealth and distribution services Graham Coxell is understood to be considering a bid for parts of Capita Financial Software.

Money Marketing has learnt that Coxell has been in talks with a number of venture capital companies to raise the funds to purchase parts of Capita Financial Software, which includes Quay, Synaptic and Webline.

Coxell left Capita in July to “pursue other opportunities”.

He joined the company in 2005 from start-up software firm Prophitshare. He was previously chief executive of Marlborough Stirling.

Coxell is thought to be currently working in the venture capital and private equity industry.

Threesixty partner Phil Young says: “Coxell had a clear vision of what Capita Financial Software could be, so is well placed to pitch to private equity. A business the size of Capita’s is unlikely to be too emotionally attached to Quay, Synaptic and Webline as standalone businesses if a sensible offer comes along, so it may come down to Coxell’s ability to convince backers that they can achieve what Capita could not.”

In June this year, Capita shut its Enabler platform to new business.

Capita says it is pleased with the performance of the financial software businesses and is not looking for a buyer.

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