Dentons Pension Management has acquired MAB Pensions, a small self-administered scheme (Ssas) administration business, for an undisclosed sum.
The deal will see Dentons add 100 Ssas to its existing book, taking the total to more than 1,200.
Dentons acquired the business from Michael Ambrose Group (MAB), the Leicester-based financial advice and pension administration provider.
Back in 2014, Dentons acquired MAB’s self-invested personal pension book, which added 125 schemes to the business, with the firm currently administering more than 7,500 Sipps.
Michael Watson, director of Michael Ambrose Limited, said although it was a “difficult decision” the firm was determined to find the right administrator who shared its “commitment to bespoke, high administration standards and practice”.
Ian Stewart, joint managing director at Dentons, said: "We have made no secret that we are an acquisitive firm, but it has to be for the right business or book of business.
“We were therefore pleased that following the successful acquisition of the MAB Sipp book in 2014, they came to us again when they were looking to find the right home for their Ssas administration business.
"It is a perfect fit for us as both companies offer the same underlying ethos of placing the client at the heart of everything we do.”
This is the second deal for Dentons this year after it acquired Brown Shipley’s pension administration business and professional trustee company for an undisclosed sum last month (January 11).
This deal saw it add 1,000 Sipps to its books, as well as 485 Ssas.
amy.austin@ft.com
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