Company Information

Xafinity is a pensions actuarial, consulting and administration business providing a wide range of advisory and compliance services to over 550 pension scheme clients. The company has more than 400 employees with offices in Reading, Leeds, Stirling, Belfast, London and Manchester. For the year ended 31 March 2016, Xafinity reported revenues of £51.8m.

Terms of the Deal

Xafinity was admitted to London’s Main Market on 16 February 2017, with a market capitalisation of £190m. This includes a £180m institutional fundraise. Zeus Capital acted as nominated adviser, sole bookrunner and sole broker on the transaction.

Market Opportunity

The transaction will enable the company to further invest in its services and people, including using its expert technology to develop existing service offerings and pursue revenue growth opportunities with both new and existing clients. In addition, Xafinity will continue to pursue an acquisitive growth strategy, designed to consolidate the market.

Ben Bramhall, Co-CEO of Xafinity, commented: “We have a very clear strategy to continue investing in our people and the services we provide to clients, including de-risking solutions. At the same time, we will continue to develop our highly accredited master trust, the National Pension Trust, as we believe this is a solution that employers need in the new world of flexible pensions.

“We would like to thank CBPE Capital for their key role in building the business over the last four years, providing invaluable support and investment which has contributed to Xafinity’s success as a stand-alone business.”

Paul Cuff, Co-CEO of Xafinity, commented: “The IPO is the logical next step in our strategy, enhancing our public profile and status with existing and potential clients and providing access to the capital markets to aid future growth if required. We are very pleased with the response of investors to the Offer and thank them for the interest they have shown in Xafinity. We welcome our new shareholders and look forward to working with them to deliver value for all our stakeholders in the business.”

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