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Dunedin sells Capula

Dunedin has clocked up its second exit in less than two weeks by selling Capula, a specialist IT company that supports power stations, nuclear facilities and water networks.

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Dunedin has clocked up its second exit in less than two weeks by selling Capula, a specialist IT company that supports power stations, nuclear facilities and water networks.

Dutch quoted company Imtech paid seven times Capula's 2011 Ebitda of £4.7m, although it is not clear what proceeds Dunedin has made from the sale. 

Since its private equity backing in 2006 employment has increased by 60 per cent to 180 and the business has expanded its client list to include blue-chip clients such as Thames Water, EDF Energy, Drax Power, URENCO and National Grid. 

Capula’s turnover grew by 49 per cent between 2010 and 2011 to £40m (€50m), and is forecast to grow by a further 24 per cent in 2012.

Dunedin last week sold mobile bridging systems company WFEL to KMW, a provider of German land defence systems, delivering a 2.4x return.

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