Capita Hartshead has acquired Gissings Holdings Ltd in a transaction for an undisclosed amount.

The move will expand Capita Hartshead's actuarial and pensions consultancy offerings, particularly in the London and south-east areas.

"We are delighted to welcome Gissings to Capita Hartshead," commented Mike Addenbrooke, managing director at Capita Hartshead. "Gissings has an excellent track record of providing innovative, cost effective advisory solutions to its clients and there is obviously a great synergy in our styles of working. This acquisition will complement our existing services and enhance our market standing."

Addenbrooke continued that despite the current difficult business environment, demand for their administration and consultancy offerings had in fact increased, and said the acquisition positions them for future growth.

"We are very excited about this acquisition which reinforces our growth strategy in the consulting area," added Malcolm Pearce, pensions operations director of Capita Hartshead. "We are looking forward to welcoming the Gissings team and working with them to integrate both the Capita Hartshead and Gissings offerings to all our clients."

Gissings's administration clients will transfer to Capita Hartshead's administration team. These clients are currently administered under an outsourcing arrangement with HCL.

- Pensions Age June 2009

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