US private equity (PE) firm Valeas Capital Partners has bought a majority stake in advice firm My Pension Expert, including a significant stake owned by fellow PE firm Palatine, the companies confirmed today.
Under the terms of the deal, Valeas Capital will take a 75% stake in the business, including the 42% previously held by Palatine. It is understood the deal was worth roughly £500m.
Doncaster-based My Pension Expert has around 20,000 clients and £2bn in assets under advice, with around 132 staff. The firm primarily provides retirement advice.
Valeas Capital Partners principal, Noah Viner, said: “My Pension Expert represents a unique platform within the UK retirement sector, and we are excited to invest in and support a business that provides high-quality advice for those who need it most.
“We look forward to accelerating the firm’s expansion by helping it scale its offering and expand access to best-in-class, personalised financial guidance.”
“As we enter the next phase of our growth journey and double down on our mission to provide financial advice to those the market has historically overlooked, we are excited to partner with Valeas,” added founder and chief executive Andrew Megson.
Palatine Private Equity partner Kieran Lawton, who led the deal for Palatine, said My Pension Expert had expanded significantly throughout the firm’s ownership period.
