22 Jun 2012 | 02:04 pm | 1 min. read
International law firm Pinsent Masons has advised outsourcing business Vertex Group on the disposal of its UK public sector service to Serco Group plc for £55.5m.
Vertex Group employs over 7,000 staff worldwide, focused on delivering Business Process Outsourcing support to public and private sector businesses in India, North America and the UK. The divestment of its public sector business, which provides multi-channel call centres, and shared transactional and ICT services to local authorities and government departments, completes Vertex’s strategy of creating independent businesses that are better positioned to respond to opportunities in their markets. Major customers of Vertex’s public sector business have included Westminster and Thurrock councils, and in central government the Child Maintenance and Enforcement Commission and Job Centre Plus. Vertex Group sold its UK private sector business to Capita for £40.5m last year.
Commenting on Vertex Group's UK public sector business sale, Gavin James, Vertex CEO said: "The transaction will allow Vertex to continue to pursue its strategy of providing high value-add BPO and customer management for clients in distinct markets and geographies, including North America, India and the UK." He added: "We were pleased to have Pinsents working as our legal advisers again. They worked as an integral part of our deal team to ensure the divestment was delivered in an effective and efficient manner."
International services provider Serco Group view the deal as an opportunity to improve the group's position to compete for large scale outsourcing opportunities. Serco Group Chief Executive Christopher Hyman, said: "This acquisition enhances the range of services we offer to the UK public sector as they seek to reduce costs whilst continuously improving outcomes for citizens."
The Pinsent Masons team advising on the deal was led by Corporate Partner Hannah Brader, assisted by Stephanie Ash (corporate), Teresa Barry (pensions) and Martin Bishop (banking).
Commenting on the deal, Hannah said: "We are delighted to have assisted Vertex Group with this strategic disposal. The team at Pinsent Masons enjoys a strong relationship with Vertex Group, having previously advised on the sale of the group's private sector business to Capita."
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