Specialist pensions provider @sipp acquired in MBO

Eddie McGuire
Eddie McGuire: fantastic news

@sipp, a Glasgow-based specialist pension provider, has been acquired by its management in a buy-out led by the firm’s managing director Eddie McGuire and finance director Steve Lancaster.  

A new company, @sipp Group Holdings, has been set up by the management team to complete the deal for an undisclosed sum.  The MBO was part-funded by debt from Santander UK.

@sipp was set up in 2001 as a specialist in self-invested personal pensions (SIPP), small self-administered schemes (SSAS) and commercial property. It supports financial advisers and serves more than 4,000 consumers. 

It had about £2 billion of assets under management in the second half of 2022 when it was appointed administrator of Royal London’s self-invested personal pension book after James Hay pulled out.

The majority shareholders are Mr McGuire and Mr Lancaster, with balance held by the long-serving members of the management team. 

Mr McGuire has a long career in the sector which has included spells as client services director at AJ Bell and financial institutions director at Jardine Lloyd Thompson. He was the founder of Xafinity.

Commenting on the MBO, he said: “Our management buyout of the firm means we can continue to operate and act as an independent and nimble pensions specialist, just as we have for the past 23 years.   

“This news is fantastic for advisers and their clients because it means business as usual in the day-to-day running of our company. Alongside the management team I’m very excited to progress with this new era of @sipp and continue to build a strong specialist pensions business for advised consumers.”  

CMS Cameron McKenna advised @sipp on the transaction.  

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