Talbot and Muir / Curtis Banks
We have today agreed to become part of Curtis Banks
Curtis Banks, one of the UK’s largest independent SIPP operators, has confirmed today that agreement has been reached to acquire Talbot and Muir, the Nottingham-based SIPP and SSAS provider, subject to completion and regulatory approval. The cost of the acquisition is up to £25.25m.
The acquisition includes The Pension Partnership Ltd, a recent acquisition of Talbot and Muir, and comprises locations and staff. Talbot and Muir has around 75 staff across offices in Nottingham and Leeds, administering over 7,000 pensions with assets under administration of circa £3.4bn.
The acquisition is the latest demonstration of Curtis Banks’ journey of growth through organic, acquisitive and diversified means. Curtis Banks confirmed that discussions on the acquisition began prior to when COVID-19 restrictions were introduced. Its financial model is resilient, and its growth strategy remains un-deterred by the current situation.
Curtis Banks is currently part-way through delivery of its system strategy that will see SIPP administration architecture upgraded and harmonised across the Group. In time these benefits will extend to Talbot and Muir, although the intention is for Talbot and Muir to continue to trade independently post-acquisition as a subsidiary of the Group, maintaining its own brand, products, dedicated staff and distribution network.
Will Self, Curtis Banks Group CEO says “We continue to look for the right types of business to grow Curtis Banks in the right way. We identified Talbot and Muir as a good strategic fit and are pleased to have agreed terms to bring them into the Curtis Banks Group.”
Graham Muir, Talbot and Muir director says “Having founded the business in 1993 with Brian Talbot we have continued to pride ourselves on our high levels of service and technical support. To continue to grow and develop the business we felt the time was right to look for a partner that was a strategic fit and has the same values as we do. We have been considering a number of strategic opportunities and it became clear that Curtis Banks offered the ideal combination of safeguarding and providing opportunities for our valued staff, whilst retaining our Nottingham and Leeds presence and product range. I have been impressed for many years by the drive and vision of Will Self and his colleagues and I feel that the Talbot and Muir business will fit well within the Curtis Banks Group. We look forward to continuing to deliver the high quality Talbot and Muir service that has built our reputation over the last 27 years. We look forward to being part of the group.”