Altrincham financial services firm Lindley Group has sold its pension administration business to AIM-listed Mattioli Woods.
Mattioli Woods, a wealth management and employee benefits company, has paid £199,001 in cash for the business.
The acquisition comprises the pension administration business of Lindley Group and the entire share capital of Lindley Trustees.
Founded in 1979, the pension business provides trustee and administration services to more than 130 small self-administered pension schemes, with assets of more than £116m under administration. In 2014, it generated revenues of £310,323.
HURST Corporate Finance partner Tim Scott and corporate finance executive Lauren Roberts advised Lindley Group on the deal.
Ian Mattioli, chief executive of Mattioli Woods, said: “This acquisition extends the existing relationships we have with intermediaries like the Lindley Group, where Mattioli Woods has proven to be a sound strategic partner with the expertise, scale and systems to give the very best SIPP and SSAS administration, delivering an enhanced service and long-term security for clients.”
