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Cap sold for £150 million

Date: 02 May 2012   |   Author: Jack Carfrae

Cap has been sold by owner Top Right for over £150 million.

The valuation specialist has been snapped up by Montagu Private Equity, which has stakes in hair straightener company GHD and Maplin Electronics.

Top Right, formerly known as Emap, has not revealed the exact figure of the sale but it is believed to be between £150 and £200 million.

Top Right's CEO Duncan Painter said the revenue would be used for acquisitions and invested elsewhere within the company.

In a statement, Cap said that it plans to continue with its present operations under Montagu.

Ian Rendle, General Manager of Cap said: "All of Cap's products are based on our expertise within the market place, our close relationships within the industry and our dedication to develop key business solutions for our customers. We are delighted to be partnering with Montagu, who share our vision for the future of the company and fully support us in our continued commitment to delivering a market leading service to our clients."

Edward Shuckburgh, Director of Montagu, stated: "Montagu believes that Cap has significant opportunities to build on its market leading position. We are excited about working with an experienced and energetic management team, who are eager to accelerate the company's development to the benefit of all stakeholders."

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