Last checked at 18 Sep 2018 07:04
Media Release
18 September 2018
XPS Pensions Group plc
("XPS" or the "Group")
XPS Pensions Group enhances its strategic focus and market leading position with acquisition and disposal
XPS Pensions Group plc, the pensions actuarial, consulting and administration business, is pleased to announce that it has agreed to acquire the assets of Kier Pensions Unit from Kier Business Services Limited, as well as the disposal of its Healthcare Consulting Business to Punter Southall Health and Protection Limited in two transactions that will serve to further strengthen the Company's strategic focus.
Kier Pensions Unit provides third party pension administration services to public sector clients, including approximately half of the police forces in the UK. The acquisition adds to the continued growth of XPS's market leading pensions administration business, XPS Administration, and gives XPS, for the first time, a significant presence in the public sector third party administration market. Kier Pensions Unit, part of Kier Business Services Limited, a division of Kier Group plc will be acquired for a total consideration of up to £3.5 million in cash.
XPS' Healthcare Consulting Business provides consulting services to companies in relation to the healthcare benefits they provide to employees and will be sold to Punter Southall Health and Protection Limited, a subsidiary of Punter Southall Group Limited, for an estimated total consideration of £1.25 million in cash.
Paul Cuff, co-CEO of XPS Pensions Group, said:
"We are delighted to announce these two deals today. They are both consistent with our strategic focus on our core market of workplace pensions. The acquisition of the Kier Pensions Unit will add to our strength in the pensions administration market and has the potential to open up new opportunities in the public sector. Meanwhile we are pleased to find a good home for colleagues in our small Healthcare Consulting business, where we expect them to thrive in the future, whilst we focus relentlessly on what we do best."
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For more information please contact:
Camarco
Rebecca Noonan, Senior Consultant, Camarco
Tel: 020 3757 4981 / 07900 340 483
Sophie Boyd, Senior Consultant, Camarco
Tel: 020 3781 8339 / 07542 834 725
Notes to Editors
XPS Pensions Group plc is a UK specialist in pensions actuarial, investment consulting and administration, providing a wide range of services to over 1,000 pension scheme clients. The XPS Pensions Group combines expertise, insight and technology to address the needs of both pension trustees and sponsoring companies. The Group has roughly 900 employees, of which approximately 90 per cent are client facing, with 15 offices providing the Group with access to staff, expertise and clients across the UK.