Isio has acquired Trafalgar House Pensions Administration for an undisclosed sum.
The move is intended to strengthen Isio’s administration offering and expands the range of schemes it can support. It also reflects Isio’s continued investment in building a larger administration platform for the benefit of trustees, sponsors and members.
The acquisition, which is expected to close at the end of the month, also broadens the range of administration services available to clients, and looks to strengthen Isio’s ability to support schemes of different sizes and requirements, from day-to-day administration through to complex projects and run on activity.
Dan Thomas, Isio’s incoming CEO (replacing Andrew Coles), says: “Isio’s growth strategy has always been underpinned by a desire to challenge the status quo, deliver genuine innovation, and expand the breadth of offerings we bring to the market.
“This acquisition marks the next major step in Isio’s evolution and I am delighted to be joining the business at a time of such transformation. While we continue to invest heavily in our broader diversification strategies across wealth and employee benefits, this transaction demonstrates Isio’s ongoing commitment to the core part of our business. Pensions administration remains foundational to Isio, and THPA is quite simply a fantastic organisation to combine with Isio’s existing business.”
Isio has over 1,400 employees in 10 offices serving a wide range of clients, backed by Aquiline, a private investment specialist in financial services and technology.
The full Trafalgar team is expected to be absorbed within Isio, with no job losses currently reported.