Capita to acquire Crown MM
Capita Asset Services is one of the fastest growing divisions of Capita Plc, a FTSE 100 company with 2013 revenue of £3.9bn.
It has 2500 employees across the UK, Jersey and Europe and currently manages £129bn of commercial real estate loans.
The acquisition of Crown Mortgage Management will give Capita increased capability in the commercial mortgage sector and an entry into the residential mortgage market.
Andrew Doyle, managing director of Crown Mortgage Management, said: “The businesses are a perfect fit for each other.
“Capita offers scale and end to end solutions for loan administration for the commercial and securitisation markets, but does not have a footprint in the residential mortgage space which Crown does. We are joining a dynamic and fast growing business.
“The change represents an even stronger future for Crown with greater potential for market growth and success for the company and our employees.”
Andrew Doyle and the executive team remain in place and look forward to continuing to provide their clients with an excellent level of service and to growing the business as part of Capita Asset Services.
The acquisition is subject to FCA approval.