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Talbot and Muir Sold to Curtis Banks Group plc

July 2020 £25.25m

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exit strategy

Project Arrow

July 2020 £25.25m

About the client

Talbot and Muir is a Nottingham and Leeds based independent pensions administrator, founded by Graham Muir and Brian Talbot in 1993.

Originally specialists in small self-administered pensions (SSASs), the firm expanded its expertise to incorporate the self invested personal pensions (SIPP) product in 2000 due to demand from advisers. Working closely with intermediaries, the firm has grown its assets under administration to in excess of £3.4bn, administering over 7,000 pension schemes across the UK.

About the deal

Rickitt Mitchell advised pensions administrator Talbot and Muir on its £25.25m sale to the Curtis Banks Group plc, one of the UK’s largest independent SIPP operators.

Rickitt Mitchell ran a competitive sales process, with interest from trade and private equity buyers. This ultimately led to a sale of the Company to Curtis Banks, a buyer with the scale and strategic vision to take Talbot and Muir to the next stage of its growth journey.

Founded in 2009, Curtis Banks is a specialist in both small self-administered pensions schemes (SSASs) and self invested personal pensions (SIPP), with over £29bn of assets under management. With more than 600 staff across offices in Bristol, Dundee and Ipswich, the firm has grown to become one of the UK’s largest independent SIPP operators, looking after more than 76,000 clients nationwide.

The transaction, which is subject to regulatory approval, will include The Pensions Partnership business, a bolt-on acquisition completed by Talbot and Muir in November 2019, which Rickitt Mitchell advised on.

Talbot and Muir was advised by Neil Mitchell, Adam Lovell and Rob Bennett at Rickitt Mitchell.

“In a competitive sale process, Rickitt Mitchell played a key role in managing the transaction. This not only minimised any disruption caused by the COVID-19 pandemic, providing maximum value for shareholders, but also achieved a strong outcome in the sale to Curtis Banks, ensuring that the business passed to a good home.”

Graham Muir | Founder