20 Dec 2019 | 11:34 am | 1 min. read
International law firm, Pinsent Masons, has successfully advised the founders and management of Redington, the independent institutional investment consultant, on an investment deal from Phoenix Equity Partners, a leading UK mid-market private equity firm.
Phoenix is partnering with Redington’s management team to support the company’s future growth plans, enabling it to develop its long-term proposition for clients, while continuing to deliver on its current level of service.
Redington, which advises pension fund trustees on how to ensure the savings pots they oversee will be able to pay scheme members when they retire, will retain its independence and control over strategy and culture, on which the business prides itself. Redington’s founders and management team will remain unchanged as will the roles and responsibilities of the company’s circa 170 staff.
The Pinsent Masons' team acting on the transaction included Ed Stead (Partner), Peter Morley (Partner), Ben Elliott (Associate), Christina Cooke (Associate), Helen Siviter (Solicitor) and Lois Dale (Solicitor).
Partner and head of UK private equity practice at Pinsent Masons, Ed Stead commented: "We are delighted to have worked with Redington on securing this significant investment. They have built a fantastic reputation in the market and have already achieved significant growth in their core pensions business. This investment will enable them to continue to grow in line with their strategic vision."
Mitesh Sheth, CEO at Redington, said: “The investment by Phoenix is a positive, natural and planned next step for the business and one which we are very excited about. We have chosen Phoenix as our partner because of its track record in backing and supporting management teams to deliver on their strategic vision. It demonstrates confidence in our people to continue to deliver Redington’s client service, unique culture and our ambitious strategy to help make 100 million people financially secure.
"The team at Pinsent Masons worked closely with us throughout the process and have provided great support and forward-thinking advice to ensure the final outcome was one that worked for both parties."
The transaction is subject to regulatory approval by the Financial Conduct Authority.
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