Leicester-based WestBridge Group (WestBridge), one of the UK’s leading SSAS administrators and tax experts, has continued its expansion plans with the acquisition of the employees, clients, and assets of Rowanmoor Executive Pensions Limited’s (REPL) book of 3,500 small self-administered schemes (SSAS), for an undisclosed sum.
This is the second major acquisition by WestBridge and follows the purchase of the James Hay SSAS book in March 2021. The acquisition will see WestBridge add over 3,500 SSAS to its existing book of 1,000 plans.
Completion is scheduled for the end of January when WestBridge will take over the duties and responsibilities of REPL. All 97 staff will be retained and continue to operate from the current offices in Bolton and Salisbury.
The acquisition will include REPL’s actuarial team which will add to the professional services offered by WestBridge.
The Group recently moved to a new HQ in Leicester on Meridian Business Park.
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 Limited said: “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.”
WestBridge Group have also announced that the acquisition will see them rebrand the enlarged business in Q1 2023, recognising the growth and future of the firm.
