The Marwyn Acquisition Company II Limited has purchased pensions services provider InvestAcc for £41.5mn.
Following completion of the sale, MAC II will be renamed to InvestAcc it has confirmed.
InvestAcc, founded by Nick Gardner, is a provider of Sipp and Ssas services in the UK.
The sale was partly funded via an equity fundraising aimed at a select group of institutional investors, according to MAC II.
MAC II was founded by Marwyn and Mark Hodges with Marwyn having a long track record of building UK public companies.
Its strategy is to build the UK’s leading specialist pensions administration business in the public markets with an initial focus on the Sipp segment, with InvestAcc the first step in this strategy.
MAC II said InvestAcc provided the opportunity to create value through a Sipp buy and build strategy due to being a leading UK personal pension administrator.
Hodges said InvestAcc will unlock MAC II’s acquisition agenda as it aims to become the UK’s leading specialist pensions administrator.
Will Self, chief executive of MAC II, added: “We are thrilled to have announced the proposed acquisition of the InvestAcc Group. We have deep respect for Nick and his team and look forward to supporting the business during this exciting next phase of growth.
“We understand the market well and are confident InvestAcc is the perfect business on which to base our buy-and-build strategy. Our ambition is to bring their leading customer proposition to more people across the UK as the self-invested pensions market expands.”
alina.khan@ft.com
