Link Group to acquire HS Pensions

Link Group has agreed to acquire HS Pensions for an undisclosed amount, with the transaction expected to complete in the second half of 2022.

The acquisition aims to support Link Group's efforts to simplify and improve member experience and engagement by providing leading technology to clients.

HS Pensions will integrate with Link Group’s UK Retirement & Superannuation Solutions business, delivering immediate capabilities for the division in core pension administration and a platform for the firm’s engagement technology.

Combined, the businesses will employ approximately 200 people and service around 1.5 million members with assets under management totalling over £4bn, with HS Pensions currently administering pensions for around 370,000 members.

Commenting on the acquisition, Link Group Retirement & Superannuation Solutions chief executive officer, Dee McGrath, stated: “Our commitment to the UK pensions sector is underpinned by our investment in building our capability, technology and platform to service clients and by bringing our global experience from a proven, successful Australian business to the UK.

“This transaction accelerates that vision and will see two high-quality businesses integrated to simplify and improve the member experience in the UK, with significant potential for growth.”

Adding to this, HS Pensions CEO, Steve Goddard, commented: “We’re delighted to have agreed this deal, which reflects very positively on the quality of the HS Pensions business and our team.

“We believe it’s very good news for our clients and people as it will facilitate the ongoing growth of the business while also providing Link Group with the opportunity to accelerate its UK growth plans and deliver on its ambition to modernise the member experience and wider pensions industry.”

Link Group Retirement & Superannuation Solutions UK general manager, Richard Wilson, also highlighted the acquisition as "a very exciting opportunity" for Link Group, HS Pensions, and its collective teams and clients.

“Together with HS Pensions, we will provide a best-in-class DC and DB proposition to clients from our deep capability and great team, from our enhanced infrastructure and through a diversified client base," he continued.

"Our joint capability will enable us to support the future developments in collective defined contribution schemes too, in what will be a transformative period for the UK pension industry.”

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