Business
Acquisition of the trade and assets of APR
XPS Pensions Group PLC has agreed to acquire the trade and assets of APR, a specialist actuarial consultancy, for an initial cash consideration of £3.3 million plus an additional £3.0 million payable by March 2027, with up to £10.0 million in contingent consideration over two years. This acquisition, expected to complete by July 31, 2026, aims to accelerate XPS's diversification into the insurance consulting market, leveraging APR's £10.7 million in revenue for the year ended March 31, 2026, at a multiple of less than 1x revenue. The deal is anticipated to be earnings enhancing in the first full year of ownership and is funded by existing cash and debt facilities. Disclaimer*
About this update from Xps Pensions Group Plc
26 June 2026 XPS Pensions Group plc ("XPS" or the "Group") Acquisition of the trade and assets of APR 'Accelerating XPS's diversification strategy and scale in Insurance Consulting' XPS Group, a leading Pensions and Insurance Consulting and Administration business, is pleased to announce that it has entered into an agreement to acquire the trade and assets of Austin Professional Resourcing LLP ("APR"), an established UK-based specialist actuarial consultancy to leading insurers and financial sector clients (the "Acquisition"). The Acquisition further accelerates the Group's diversification strategy into this large tangential addressable market and its aim of becoming a market leading financial services consulting and administration provider. The Acquisition is expected to complete on or around 31 July 2026. APR was established in 2006 and has worked with over 45 insurers and financial sector clients in the last three years, including most of the UK's top 10 insurers. APR has strong client relationships, with a client Net Promoter Score of +70, which is considered excellent. APR prides itself on having a very strong employee culture including an excellent training programme attracting high calibre employees. APR has an established team of over 70 client facing employees which, combined with the existing XPS insurance consulting team and access to wider XPS actuarial teams, will provide greater scale and enhanced capabilities to accelerate the Group's diversification into the insurance consulting market. Importantly, APR has expertise in the UK's General Insurance consulting market, which is estimated to have an annual value of c.£1.5bn, with APR having client relationships with over 20 general insurers. This helps position the Group to become a broader insurance consulting provider, strengthening its ability to deliver comprehensive services across both Life and General Insurance markets, unlocking further growth opportunities. Cash consideration of £3.3 million will be paid on completion, with an additional non-contingent cash consideration of £3.0 million payable by 31 March 2027. A further contingent total cash consideration of up to £10.0 million will be payable in years 2 and 3, contingent on achieving certain stretching business performance criteria. The Acquisition is being funded fr...
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