Executive Summary
Cape is an international market leader in the provision of essential support services to the energy and natural resources sectors. The company was founded in 1893, as a manufacturer of insulation products. Today, we specialise in providing services, such as access, insulation, fire protection, coatings, cleaning, training and other essential services throughout the life cycle of major industrial assets. Cape's services are deployed during initial project build, commissioning, routine maintenance, extension of life projects and decommissioning.
It employs around 13,000 employees who operate in 23 countries. The offices are headquartered in Uxbridge in the UK. The head office is supported by a substantial network of more than 40 offices around the globe, staffed both from the UK and locally.
Company History
- During the 1950s the Company set up its contracting operations and began to further its horizons with international expansion though Cape East.
- In 1976, the Group further broadened its service offering with the creation of Cape Scaffolding.
- In 1994, Cape Contracts and Cape Scaffolding merged into single unit - Cape Industrial Services, which provided services to all markets except the Middle East and Asia, which were serviced by Cape East. This structure was reviewed in 2007 when all Cape Group companies were brought under the unified Cape brand name.
- In 2007, Cape developed a significant presence in Australia through the acquisition of TCC, Concept Hire and PCH Group.
Current Events
Business Model
Products/Services
Segments/Customers
Top 20 customers account for 42% of sales, no single customer accounts for more than 8% of total sales.
Production/Operations
Distribution/Routes to Market
Market & Competition
Market Share
Main Competitors
Competitive Strengths and Weaknesses
Management
Financials
Profit & Loss
- For H1 2008, revenue up 58% to £295.9m & Adjusted EBITA up 103% at £29.9m with operating margins widened to 10.1%
- Adjusted diluted EPS up 28% at 13.1p
Balance sheet
- Net debt of £199m in line with management expectations.
Cashflow
Valuation
Comparable Companies
SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
