Mattioli Woods acquires Cooper Parry pensions arm for £1.1 million

Mattioli Woods has acquired the pensions consultancy business of Cooper Parry Wealth Strategies for £1.175 million.

The deal, completed on 30 April, transfers the trade and assets of the pension administration and employee benefits businesses of Cooper Parry, known as Cooper Parry Pensions.

CP Pensions provides consultancy and administration services to 239 Sipp clients and 51 small SSAS clients with £110 million combined funds under trusteeship. CP Pensions also provides employee benefits services to 30 corporate clients. 

The acquisition will expand Wood’s employee benefit and group pension capability.

Bob Woods (pictured), executive chairman of Mattioli Woods, said: ‘The acquisition of CP Pensions’ employee benefits business adds further scale to Mattioli Woods’ existing employee benefits and group scheme operation. The transaction also facilitates the development of a closer, ongoing relationship with Cooper Parry.’

Woods said he expects demand for bespoke SSAS and Sipp consultancy and administration to grow and suggested his business would continue to expand through acquisitions.

Six administration staff from CP Pensions will relocate to Mattioli Woods’ Leicester office following the acquisition.

Woods has also acquired Cooper Parry Sipp Trustees Limited and Cooper Parry SSAS Trustees in a separate deal for an undisclosed sum.

In the year ending 30 April 2010 CP Pensions generated revenues of £0.43 million