Wrap platform provider Platform One has acquired Gaudi Trustees and the operation of more than £1bn ($1.24bn, €1.13bn) self-invested personal pension (Sipp) assets currently administered by Gaudi Limited for an undisclosed sum.
The move increases Platform One’s assets under administration and on technology to £2.7bn.
Gaudi’s expertise will support Platform One’s launch of its own on-platform Sipp. Gaudi’s clients will also gain access to Platform One’s services, including Isa management. The white-labelling specialist will continue under the same name until it rebrands as Platform One.
Alex Cowan-Sanluis, Platform One chief executive, said: “Gaudi has a highly complementary proposition to ours, and its experienced team brings a range of technical knowledge and administrative expertise to our growing business.”
“We look forward to offering Gaudi’s customers access to a greater range of services. Also, with the upcoming launch of our new Sipp, we’ll deliver a more rounded proposition for our IFA customers and their clients.”
Gaudi head of implementation Adam Burwell added: “We’re excited to plug our Sipp into Platform One technology and become part of a more holistic, technology-based offering. The shape of this acquisition also means we can continue to offer our existing clients a wider service, without interruption.”
The deal comes several months after parent company Gaudi Regulated Services Limited was hit with an asset restriction, according to the Financial Conduct Authority (FCA) register.
