UK-headquartered international trust and pension provider The UAP Group has acquired Guernsey-based Concept Group for an undisclosed sum.
Concept is a fiduciary company providing offshore financial solutions, established in 2004.
UAP said the deal will help the business become “one of the largest pension providers in Guernsey, employing over 50 people across the group”.
Roger Berry, managing director of Concept, will become a non-executive director of UAP alongside Concept’s non-executive director Lyndon Trott.
Kevin Le Moigne will continue as group operational director at UAP, while founder James Floyd will take on the role of group commercial director.
The M&A deal was approved by the Guernsey Financial Services Commission on 17 September 2021.
Expansion
Rob Shipman, group chief executive and founder of UAP, said: “We are a client-focused business, delivering modern solutions, through easy-to-use technology.
“The acquisition of Concept brings UAP a prestigious and globally recognised pension brand, Aurora, while also adding significant scale to the UAP business. By combining the innovative technological solutions of UAP with the expertise and strong reputation of Concept, we will be in a perfect position to continue enhancing our service while developing new and innovative solutions for our clients.
“Expansion is our focus. We have exciting plans for additional acquisition in the next 12 months which will further strengthen our offering.”
UAP has operations in the UK, Guernsey and Malta and the inclusion of the Aurora brand will add a number of solutions designed for residents of the US, UK, Spain, Portugal, Africa, the Middle East, and Asia.
