Capita considering sale of Axelos division

Training unit is co-owned by outsourcing giant and the Cabinet Office

Capita confirmed that is in talks with the Cabinet Office to potentially sell their jointly-owned Axelos division.

Capital has a 51 per cent share in the business and the government department owns the remaining 49 per cent.

Capita announced the news in response to "media speculation" and stated that there is a likelihood that the review of Axelos' ownership may not result in a sale.

"Capita can confirm that [it] and the Cabinet Office are exploring strategic options in relation to Axelos, including a potential sale of the business. There can be no certainty that this review will result in a transaction involving Axelos," it stated in a note to the London Stock Exchange.

Axelos specialises in developing and promoting best practice methodologies for professionals in project, programme and portfolio management. It has a headcount of around 100 and generated revenues of £47.6m in its fiscal 2019.

Capita claims that 90 per cent of the "world's leading organisations" use Axelos' best practice methodologies, with just under five million people certified globally.

Capita has been divesting itself of a number of units in recent years: it sold its Eclipse Legal Systems nit for over £56m to Access UK, its Workplace Technology division underwent an MBO led by its founder Paul Gillett and is in the process of selling Education Software Solutions (ESS) to Montagu Private Equity in a deal worth £400m.