Independent Governance Group (IGG) has acquired Scotland-based trustee firm ProPensions, strengthening its professional trustee capability and expanding its presence in Scotland.

As part of the acquisition, all five ProPensions trustees will join IGG, and clients will continue to be served by their existing teams.

IGG said the deal would give ProPensions clients access to greater resources, investment and specialist expertise while retaining existing relationships and service arrangements.

The acquisition builds on IGG’s recent expansion, following its purchase of pensions consultancy KGC Associates last year, the launch of its Birmingham hub in May and the introduction of its trustee-led Project Management Office.

It will also deepen IGG’s presence in Scotland, alongside its existing Edinburgh office.

IGG CEO, Andrew Bradshaw, said: “ProPensions is an excellent fit for IGG, combining strong client relationships, specialist expertise and a culture that closely reflects our own. The acquisition builds on our existing presence in Scotland and gives us greater depth in the market.

“ProPensions is a highly respected business, and I look forward to welcoming the team to IGG. Our priority is to ensure a seamless transition for clients and our new colleagues, preserving the relationships and service they value while giving them access to the additional expertise and resources of the wider group.”

ProPensions founder, Mike Kennedy, noted that IGG shared the firm’s focus on high-quality trusteeship and client relationships, adding that cultural fit had been an important consideration.

“For our clients, this is an opportunity to retain the personal service and trusted relationships they know, while benefiting from greater resources, investment and specialist expertise.

“It will help us continue to develop our offering and remain well positioned to support clients as the pensions landscape evolves.”

Meanwhile, ECI partner, Michael Butler, argued that the acquisition reflected IGG’s continued growth since ECI, a private equity firm, invested in the business two years ago.

“We look forward to continuing to support the IGG team as it builds on its strong track record and further strengthens its position in the pensions trusteeship and governance services sector,” he added.

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