28 November 2000
Hyder Business Services sale to Nomura Company
Senator Capital Limited, a company formed and financed by Nomura International’s Principal Finance Group (PFG) announces that it has entered into an agreement to acquire Hyder Business Services.
Hyder Business Services specialises in providing business processing expertise, drawing on new technology to create additional efficiency and added value. In the public sector, its larger customers include Bedfordshire County Council, Lincolnshire County Council and Middlesbrough Council, who selected Hyder Business Services as preferred bidder for its ten year £260 million Public Private Partnership last week.
Hyder Business Services currently employs 1,850 people and new partnerships will see the workforce grow to over 3,500 by April 2001. The current management team, led by Managing Director, John Jasper, will remain in place. Guy Hands, Managing Director of Nomura International's PFG, said:
“When we first looked at Hyder, we discovered in Hyder Business Services, a market-leading business services company with the potential to produce exceptional growth. The drive towards higher standards of efficiency and service by Local Government provides huge opportunity for those who can add real value. We will support Hyder Business Services strategically and financially in its aim of becoming the Partner of Choice for Local Government throughout Great Britain.”
John Jasper, Managing Director of Hyder Business Services, said:
“This is great news for Hyder Business Services and for its customers. Nomura will give us the ability to exceed our customers' expectations whilst expanding the business further.”