Strata Partners advises Capita plc on the divestment of its 75% shareholding in Fera Science Ltd based on an EV for the joint venture of £80m

Strata Partners is delighted to announce our latest TIC sector transaction, advising Capita plc (“Capita”) on the sale of its 75% shareholding in Fera Science Limited (“Fera”) to Bridgepoint Group plc (“Bridgepoint”) for an enterprise value of £60 million on a cash-free, debt-free basis. The deal values the total joint venture at £80 million.

Fera was established in 2015 as a joint venture between Capita and the UK Department for Environment, Food & Rural Affairs (“Defra”) to create a financially sustainable business focused on the agriculture, farming and food production market. It specialises in environmental testing, research, and advisory and assurance services for both the public and private sectors.

As part of the transaction, Defra is retaining its shareholding.