Recent deals

September 2022
Hines advises Penfida Limited on its sale to XPS Pensions Group plc

Hines Associates (“Hines”) is delighted to announce that it advised Penfida Limited on its sale to XPS Pensions Group plc

Hines acted as financial adviser to Penfida Limited on its sale to XPS Pensions Group plc (“XPS”).

Penfida was established in 2005 by Paul Jameson and Jonathan Dawson, with the mission of providing corporate finance advice mainly to pension fund trustees, both in respect of complex corporate transactions as well as regular covenant advisory work in connection with pensions schemes’ triennial valuations and monitoring. Penfida has built up a substantial presence in the market as the leading independent specialist adviser, with clients representing in aggregate in excess of £300bn of assets.

XPS is a leading pensions consulting and administration business listed on the London Stock Exchange Main Market and focused on UK pension schemes.

XPS advises on the full range of workplace pension needs, helping trustees and employers run pension schemes for the benefit of both current and former employees and supporting scheme members.

Penfida’s business will be combined with the existing XPS covenant team and be led by the current Penfida management, including Managing Partner Paul Jameson.

Peter Smart, Partner at Hines:
“As experienced corporate financiers sitting as trustees on the Lazard Directors’ and Staff pension schemes respectively, Paul and Jonathan saw the opportunity to create a high-quality covenant advisory service to trustees, combining analytical rigour with deal skills to advise clients on the complex pension issues arising in high profile M&A and corporate restructurings. XPS provides a great home for the team in a business which holds to similarly high professional values.”