Global financial services provider Zedra has bought independent pension trustee and governance services provider PTL for an undisclosed sum.
Founded in 1994, PTL is a UK professional trustee firm, acting for both defined contribution (DC) and defined benefit (DB) pension schemes, group life trusts and healthcare trusts.
The deal, which follows the acquisition of Inside Pensions in 2021, bolsters Zedra’s pension services arm in the UK, which now consists of five offices in London, Reading, Leeds, Birmingham and St Albans.
This increases the operation’s headcount to 70 pensions experts and support staff.
Bolster market outsourcing
David Rudge, head of UK at Zedra, said: “We believe companies need high quality, well-resourced and sustainable support if they are to navigate complex situations to their maximum efficiency and with the best output for the members they serve.
“Unfortunately, smaller organisations can struggle to provide this. The acquisition of PTL reinforces our position as a market leader for outsourced pension services in the UK pension space and allows us to provide even greater service to those who are committed to providing the highest quality pension schemes possible.
“2021 saw Zedra achieve triple digit revenue growth, along with a triple headcount increase in the UK. As head of UK, I am personally very excited about our journey ahead as a team, as we further consolidate our proposition, bringing together an array of talent across many areas of expertise, offering a full suite of services to clients.”
Richard Butcher, managing director of PTL, added: “Being part of Zedra, who share our cultural values and work ethics, will enable us to continue to offer an even wider range of governance services to our clients. With the acquisition of Inside Pensions last year and now PTL, Zedra is fast becoming a leading player in the UK.
“The acquisition further cements and consolidates PTL’s position in the market as one of the leaders in the outsourced pensions governance service space in the UK. It strengthens our clients and, importantly offers even more opportunities to our people. It’s a very exciting time for us all.”