Pension services and employee benefits group, Xafinity, is to be acquired by Advent International for an undisclosed sum.

The global private equity firm will take over the company, which provides pensions administration, payroll and consulting services for around 1,100 public sector companies and entities.

In July 2005 Xafinity was acquired by Duke Street, and operated through three divisions: Xafinity Paymaster, providing pensions administration to the public and private sector; Xafinity Claybrook, a provider of pensions administration systems; and Xafinity Consulting, a pensions consultancy business. The Group acquired Hazell Carr in 2008.

"We have followed Xafinity closely for three years and feel that the timing is right for us to invest," commented Jeff Paduch, director at Advent International and leader of the investment. "We will continue to support the operational improvements that chief executive, Tim Robinson and his team have implemented and look forward to supporting additional initiatives that will drive growth across Xafinity's three divisions."

Managing director at Advent International and head of its financial and business services sector, James Brockleback, added that Advent will apply its sector expertise to ensure Xafinity develops to its full potential.

Chief executive at Xafinity, Tim Robinson, said: "We are excited by the prospect of having Advent International as our new backer and look forward to their support as we continue to harness the many opportunities for growth that this next phase of ownership will present.

"Advent's experience in the broader financial services sector and their specific knowledge of business process outsourcing will be extremely valuable as we continue to build and shape our company for the future."

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