Zedra, the global specialist in corporate Services, active wealth and fund solutions, has acquired UK- based pension trustee and governance services provider, PTL.
Founded in 1994, PTL acts for both Defined Contribution (DC) and Defined Benefit (DB) Pension Schemes, Group Life Trusts and Healthcare Trusts.
The deal, which it announced in a statement today (10 January), follows the acquisition of Inside Pensions in 2021.
Zedra's Pension Services now consists of five offices in London, Reading, Leeds, Birmingham and St Albans and increases headcount to 70 dedicated Pensions experts and support staff.
It said that as the regulatory system has become increasingly complex over recent years, so has the challenge of running a pension scheme for employers and trustees, including the pressure from the Department of Work and Pensions and the Pension Regulator.
David Rudge, Head of UK, 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, PTL, said: "Over the last 27 years PTL has grown into one of the leading Independent Professional Trustee firms in the UK. We are now excited to be joining a successful global organisation that complements our brand perfectly.
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."
Ivo Hemelraad, chief executive, Zedra, said: "This deal further cements Zedra's offering and capabilities, and is in line with our strategic approach to the UK market. We are expecting a very busy 2022 for our UK offices and I am confident that Zedra's reputation in rendering an end-to-end service to private, corporates and alternative fund clients will go from strength to strength."
