SSAS administrator swoops for Wiltshire rival
WestBridge Group, the Leicester-based SSAS administrator and tax specialist, has snapped up a Wiltshire counterpart for an undisclosed sum.
The employees, clients, and assets of Rowanmoor Executive Pensions will be transferred to WestBridge upon completion of the deal in January 2023.
WestBridge will add some 3,500 plans to its existing 1,000-strong SSAS book as a result of the acquisition.
The deal follows WestBridge’s swoop for James Hay’s SSAS book in March 2021 and its recent relocation to a new HQ on Meridian Business Park.
All 97 of Rowanmoor’s staff will be retained and continue to operate from the firm’s offices in Bolton and Salisbury.
Tom Moore, chairman of WestBridge Group, said: “We have made no secret that we are acquisitive for the right books of business and have shown how we can successfully integrate them into the WestBridge Group. This is another exciting opportunity for us to bring together the combined expertise of SSAS professionals from both firms to create a hub of SSAS excellence. We look forward to welcoming the team to the WestBridge Group and getting to know them all.
“REPL is an established business benefiting from strong management and a depth of resources. We look forward to meeting their clients and intermediary partners to reaffirm our commitment to dedicated account manager driven SSAS administration.”
Paul Downing of Rowanmoor Executive Pensions added: “As a leading SSAS administrator, we received a number of expressions of interest in acquiring our business and client book. The board is delighted to have found the right home for our staff, assets under administration, and importantly our customers who will receive the benefit of continuity in service as WestBridge takes the helm.”