The acquisition is subject to regulatory approvals and is expected to complete by 31 December 2017.
Capita has run a trustee and third party funds administration service in Jersey for over 60 years, with a staff currently of around 200 at its offices in Castle Street, St Helier. It also has multiple offices in the UK and across Europe, plus a presence in Dubai.
Link Group managing director, John McMurtrie, said Capita was “highly complementary to Link Group and represents an attractive platform for our company’s further expansion into the UK and European markets”.
He added: “While Link Group has been a market leader in Australia for a number of years and has had a presence in Europe, with the acquisition of Capita, we can say that Link Group is now a truly international company with expanded opportunities for further growth.”
Capita chief executive Andy Parker said: “In the Autumn of last year we set out a strategy to simplify and streamline Capita by repositioning the Group and refocusing on delivering technology-enabled business and customer management solutions that make business processes smarter and deliver better customer service. This disposal is an important step in realising this strategy.”
