Simmons & Simmons Advises the Department for Communities and Local Government on the Sale of the Fire Service College
Simmons & Simmons has advised the Department for Communities and Local Government (DCLG) on the sale of the Fire Service College to Capita.
The Fire Service College is the national training college for the Fire and Rescue Service (FRS). We have advised DCLG (in conjunction with DCLG’s in-house legal team) on all aspects of this transaction, since October 2011. We advised on various ownership and governance structures considered, as well as the auction process leading to the sale to Capita.
The Simmons & Simmons team was led by Corporate Commercial partner Richard Armitage, assisted by partners Charles Mayo (Corporate Commercial), Steve McNab, (Environment & Planning), David Thompson (Real Estate) and Darren Oswick (Tax), with support from associates Sarah Clarke, Federica Titon and Rosanna Piper (Corporate Commercial), Angus McLean (Intellectual Property), Anna Shelley (Employment), Carol Shaw (Real Estate), Philip Redston (Pensions) and Zoe Arnautov (Tax). Isobel Brown led the DCLG in-house legal team.
Commenting on the transaction, Richard Armitage, said: ‘‘This is our first transaction for DCLG and we are delighted to have supported them in the completion of this sale which will secure the College’s long term future as a leading provider of training to the fire and rescue and wider emergency services.”
DCLG’s objectives included securing the College’s future as a provider of operational training to the FRS and continuing access to its national resilience strategic assets/. Since becoming a trading fund in 1992 it has never been able to pay a dividend out of operating profits. To be able to achieve its full potential the government concluded in April 2011 that there was a requirement for greater involvement from other sectors in its ownership, operation and governance.
DCLG will share in any future profits from the development of college land and will receive further revenue from the sale of a number of houses previously part of the college estate. Capita has also committed to invest in a significant programme of infrastructure and transformation and is keen to ensure that training courses deliver improved value for money. Taken together the sale of the college has the potential to deliver an estimated benefit of £30 million to the taxpayer in the first few years and at the same time secure the college’s future.
Capita was advised by DLA, (led by corporate partner Paul Pignatelli), Taylor Walton on Real Estate and Walker Morris on Pensions.
http://www.simmons-simmons.com/en/News/2013/03-Mar/Department-for-Commu…