M&A Deal Summary

Curtis Banks Group Acquires Suffolk Life Group

On January 15, 2016, Curtis Banks Group acquired financial services company Suffolk Life Group from Legal & General Group for 45M GBP

Acquisition Highlights
  • This is Curtis Banks Group’s 2nd transaction in the Financial Services sector.
  • This is Curtis Banks Group’s largest (disclosed) transaction.
  • This is Curtis Banks Group’s 2nd transaction in the United Kingdom.

M&A Deal Summary
Date 2016-01-15
Target Suffolk Life Group
Sector Financial Services
Buyer(s) Curtis Banks Group
Sellers(s) Legal & General Group
Deal Type Divestiture
Deal Value 45M GBP

Target

Suffolk Life Group

Ipswich, United Kingdom
Suffolk Life Group Ltd. is a provider and administrator of specialist pension products, primarily Self-Invested Personal Pensions (SIPPs). It has total assets exceeding £5 billion. Suffolk Life owns over 2,700 properties for over 4,000 SIPP investors.

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Buyer(S) 1

Buyer

Curtis Banks Group

Bristol, United Kingdom
Category Company
Sector Financial Services
DESCRIPTION

Curtis Banks Group plc is a provider of pension administration services.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 2 of 2
Type (Divestiture) 1 of 1
Country (United Kingdom) 2 of 2
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-31 Pointon York SIPP Solutions

Market Harborough, United Kingdom

Pointon York SIPP Solutions Ltd. is a provider of self-invested personal pensions.

Buy -

Seller(S) 1

SELLER

Legal & General Group

London, United Kingdom
Category Company
Founded 1836
Sector Financial Services
Employees11,956
Revenue 36.4B GBP (2023)
DESCRIPTION

Legal & General Group is a large insurance and investment management company. Legal & General is divided into four business segments. These include Legal & General Retirement, Legal & General Investment Management, Legal & General Capital, and Legal & General Insurance. Legal & General was founded in 1836 and is based in London, the United Kingdom.

DEAL STATS #
Overall 6 of 10
Sector (Financial Services) 2 of 3
Type (Divestiture) 6 of 8
Country (United Kingdom) 3 of 6
Year (2016) 2 of 4
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-04 Legal & General Holdings S.A.

Paris, France

Legal & General Holdings (France) S.A. is a specialist player in unit-linked savings and group risk, with an established presence in the affluent savings market and the group health and protection market for SMEs.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-11 Cofunds

Chelmsford, United Kingdom

Cofunds Ltd. is an investment platform that offers pension, wealth administration and management services for financial institutions.

Sell £140M
Mergr

Product

Company

Legal