The Client

On behalf of Smith & Williamson LLP (“Smith and Williamson”), Metis Partners is pleased to present the opportunity to acquire the business and assets of a long-standing pension administration services business for Self-Invested Personal Pensions (“SIPPs”) and certain related products (“Project Falcon” or the “Company”). It is anticipated that the purchase will take the form of a defined business and assets sale in whole or part.

The Assessment

The Company currently administers circa 5,000 SIPPs, of which circa 65% are considered to hold ‘non-standard’ investments. The Company holds circa £1.5bn of SIPP assets under administration. The Company has a dedicated workforce of circa 30 staff for direct SIPP operations, along with a number of additional shared services personnel, and trades from a leased premises under certain recharge arrangements.

Key Financials

  • Total annual revenues of circa £5m to December 2021
  • Net assets of circa £6m at March 202


All interested parties will be required to sign a non-disclosure agreement and have the ability to work to the following timeline:
  • Expressions of interest are to be submitted as soon as possible
  • Offers for the business and/or assets are requested by 30 June 2022
  • Fully funded offers by 7 July 2022
  • Ability to complete by 29 July 2022

Offer Terms and Conditions

Offers should be made on a written basis, setting out the assets to be acquired, the key assumptions underpinning the quantum and structure of the consideration and any conditionality attaching to the offer. Proof of funds should also be provided. If you would like further information on this opportunity, please contact Metis Partners or Smith & Williamson using the details provided below, following which access will be provided to a data room along with further information about the process, subject to the signing of a non-disclosure agreement.


The information above has been prepared by Smith & Williamson on behalf of the seller. It is intended only as a brief outline of the business to enable parties to establish whether the opportunity outlined might be of interest to them. The information has been provided by the seller and not audited, verified or warranted by Metis Partners or Smith and Williamson and therefore no guarantee as to the accuracy of the information can be given. No liability is accepted for any loss, cost or damage suffered or incurred as a result of reliance on such information.
Neither Metis Partners or Smith and Williamson will give any advice to any parties that view the information above.
For further information and access to a virtual data room, please contact Emre Turan at, Adam Stephens at or Chris Allen at