A Bristol-headquartered financial services company has bought up a Nottingham-based pensions administration firm for £25.5million.
Curtis Banks, a major self-invested personal pension provider (SIPP), said the pre-conditions to its acquisition of Talbot and Muir, including approval from the Financial Conduct Authority (FCA), have been satisfied.
Completion of the deal will take place on October 30, 2020.
Will Self, chief executive of Curtis Banks, said: "I am delighted that the acquisition of Talbot and Muir will complete at the end of the month.
“Our two businesses are highly compatible in terms of the culture, service offering and distribution routes and this combination reinforces our position as a leading SIPP provider in the 海角视频 whilst also being immediately earnings enhancing for the group as a whole.
“I very much welcome the Talbot and Muir team into the Curtis Banks Group and I look forward to working with them to drive the future growth of the business."
A team at Manchester-based corporate finance advisory practice Rickitt Mitchell advised Talbot and Muir on its acquisition.
The team was led by Rickitt Mitchell partner Neil Mitchell, along with Adam Lovell and Rob Bennett.
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Mr Mitchell said: “It was a pleasure working with the high-calibre shareholder management team at Talbot and Muir.
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“Graham, Brian and David Bonneywell have built one of the leading pension administration businesses in the 海角视频, and this quality was highlighted by the level of interest in the company throughout the process.
“In Curtis Banks, we have found a buyer with the scale and strategic vision to take Talbot and Muir to the next stage of its growth journey, and we look forward to seeing the enlarged group develop over the coming years.”