Mattioli Woods has bought Belfast-based SSAS Solutions for an initial price of £2.5m that could rise up to £4m, subject to certain financial targets.
The small self-administered pension scheme (SSAS) focused business was established in 2009 and acts as a SSAS practitioner to 350 schemes and has around £380m of assets of administration. The firm employs 12 staff and provides personal service and expert technical advice to owner-managed businesses throughout the UK.
The SSAS firm’s management team will be retained by the wealth management giant following the acquisition.
Mattioli Woods CEO Ian Mattioli said: “This acquisition is an important step forward for Mattioli Woods, as we continue to expand our operations. SSAS Solutions is a great fit culturally and strategically, serving a similar client base to our existing business.
“The transaction gives us an exciting new distribution channel for Mattioli Woods’ services, with the opportunity to enhance the existing client offering to include self-invested personal pensions.”
SSAS Solutions directors Allison Chambers and Michael Galway added: “We are delighted to be part of the Mattioli Woods group and see this as the next exciting phase for SSAS Solutions in our role of providing entrepreneurial pension solutions for our clients.
“Being part of the Mattioli Woods group provides us with additional resource and support to enable the business to grow whilst still maintaining our strong client values, which mirror those of Mattioli Woods.”