Mattioli Woods is pleased to announce it has acquired the pension administration business of Lindley Group Limited. The acquisition is being funded from the Group’s existing cash resources and results in a cash outflow on completion of approximately £230,000, including deal costs. The acquisition comprises the pension administration business of Lindley Group and 100% of the share capital of Lindley Trustees Limited (together “the Pension Business”) from Lindley Group. Founded in 1979, the Pension Business provides trustee and administration services to over 130 small self-administered pension (“SSAS”) schemes, with assets under administration of over £116 million.
Commenting on the transaction, Ian Mattioli, Chief Executive of Mattioli Woods, said:
“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.
“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.”
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