5th Oct 2015 08:27
LONDON (Alliance News) - Wealth management and employee benefits company Mattioli Woods PLC on Monday said it has acquired the pension administration arm of Lindley Group Ltd for GBP199,001 in cash.
The acquisition, funded from Mattioli Woods' existing resources, will see it buy Lindley's pension administration business and Lindley Trustees Group. The Lindley pension arm provides trustee and administration services to more than 130 small self-administered pension schemes, with total assets under administration of GBP116.0 million.
"This acquisition extends the existing relationships we have with intermediaries like the Lindley Group, where Mattioli Woods has proven to be a sound strategic partner with the expertise, scale and systems to give the very best SIPP and SSAS administration, delivering an enhanced service and long-term security for clients," said Chief Executive Ian Mattioli.
"With increasing complexity and continuing consolidation in both the SIPP and SSAS sectors, we anticipate there will be further opportunities to expand Mattioli Woods' pension administration business by acquisition, accelerating the group's growth," Mattioli added.
Shares in Mattioli Woods were down 0.5% to 607.00 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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