M&A Deal Summary

abrdn Acquires Ignis Asset Management

On March 26, 2014, abrdn acquired financial services company Ignis Asset Management from Phoenix Group for 390M GBP

Acquisition Highlights
  • This is abrdn’s 2nd transaction in the Financial Services sector.
  • This is abrdn’s largest (disclosed) transaction.
  • This is abrdn’s 4th transaction in the United Kingdom.

M&A Deal Summary
Date 2014-03-26
Target Ignis Asset Management
Sector Financial Services
Buyer(s) abrdn
Sellers(s) Phoenix Group
Deal Type Divestiture
Deal Value 390M GBP

Target

Ignis Asset Management

Edinburgh, United Kingdom
Ignis Asset Management Ltd. provides investment management services to Phoenix's Life Companies as well as to third party clients, including retail, wholesale and institutional investors in the UK and overseas.

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Buyer(S) 1

Buyer

abrdn

Edinburgh, United Kingdom
Category Company
Founded 1825
Sector Financial Services
Employees4,719
Revenue 1.5B USD (2023)
DESCRIPTION

abrdn is a provider of long-term savings and investments. abrdn was founded in 1825 and is based in Edinburgh, United Kingdom.

DEAL STATS #
Overall 4 of 6
Sector (Financial Services) 2 of 3
Type (Divestiture) 1 of 2
Country (United Kingdom) 4 of 6
Year (2014) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-07 Focus Solutions

Warwickshire, United Kingdom

Focus Solutions is a provider of front-line software founded in 1995. It is a financial services software house with an enviable track record of providing effective advice & business automation, CRM, T&C and financial planning solutions.

Buy £42M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-03 The Manufacturers Life Insurance

Toronto, Ontario, Canada

The Manufacturers Life Insurance Co. is an operator of life insurance company in Asia, Canada, the United States, and internationally.

Sell $4.0B

Seller(S) 1

SELLER

Phoenix Group

London, United Kingdom
Category Company
Founded 1782
Sector Insurance
Employees7,653
Revenue 21.8B GBP (2020)
DESCRIPTION

Phoenix Group consists of several life insurance funds which are closed to new business. Phoenix Group was founded in 1782 and is based in London, the United Kingdom.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 2
Country (United Kingdom) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-01 Resolution

London, United Kingdom

The Resolution Group is a privately-owned investment firm that has deep experience across financial services with a primary role as a sponsor of life insurance consolidation projects. Partners with public and private market investors. Focuses on risk management, cash flow and consolidation benefits.

Buy £5.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-27 AXA Wealth - Pensions & Protection Businesses

United Kingdom

AXA Wealth - Pensions & Protection Businesses comprises a pensions and investments business, offering a range of propositions catering to both individual and corporate requirements ("Embassy"), and SunLife, a leader in the over 50s protection sector.

Buy £375M
Mergr

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