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Punter Southall Group to merge actuarial, investment consulting and administration businesses with Xafinity

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The Punter Southall Group is planning to merge its actuarial, investment consulting and administration businesses with Xafinity in a deal worth up to GBP153 million.

Under the proposed transaction, Punter Southall Limited, Punter Southall Investment Consulting and Punter Southall Administration Limited are being acquired by Xafinity for a combination of cash and shares. As a result, the Punter Southall Group will become the largest single shareholder in Xafinity. The merger will create a business of significant scale, enabling clients of the complementary Xafinity and Punter Southall businesses to benefit from a wider range of services and expertise.
 
The Punter Southall Group will continue to own, operate and invest in its range of specialist businesses across wealth management, workplace saving, and health and protection. The proposed transaction will also see Xafinity’s independent trustee business, HR Trustees, merge with PS Independent Trustees and become part of the Punter Southall Group, significantly expanding its capabilities in this area.
 
Jonathan Punter (pictured), co-Founder and CEO of Punter Southall Group, says: “This is an exciting development for the clients and employees of our actuarial, administration and pension businesses. They will benefit from increased scale and expertise through the creation of the largest purely “pensions” consulting firm in the UK market.
 
“As the largest shareholder we will continue to have a strong connection to this business. At the same time, by combining HR Trustees with our existing independent pension trusteeship business, we have expanded our offer significantly in this area. For the rest of the Punter Southall Group, the merger provides the resources to invest and drive future growth.”
 
The proposed merger will be subject to regulatory and shareholder approval and will aim to complete in 2018.

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