Independent pension trustee and governance services provider, PTL, has been acquired by active wealth, global expansion and fund services specialist, ZEDRA, for an undisclosed sum.

The deal follows ZEDRA’s acquisition of Inside Pensions in February 2021.

ZEDRA stated that the acquisition would bolster its pension services in the UK and complement its offering of support and governance services to pension trustees by adding professional trustee services.

ZEDRA Pension Services now has five offices in the UK and 70 staff.

“We believe companies need high quality, well-resourced and sustainable support if they are to navigate complex situations to their maximum efficiency and with the best output for the members they serve,” commented ZEDRA head of UK, David Rudge.

“Unfortunately, smaller organisations can struggle to provide this. The acquisition of PTL reinforces our position as a market leader for outsourced pension services in the UK pension space and allows us to provide even greater service to those who are committed to providing the highest quality pension schemes possible.

“As head of UK, I am personally very excited about our journey ahead as a team, as we further consolidate our proposition, bringing together an array of talent across many areas of expertise, offering a full suite of services to clients.”

PTL managing director, Richard Butcher, said the trustee services company was “excited” to be joining ZEDRA.

“Being part of ZEDRA, who share our cultural values and work ethics, will enable us to continue to offer an even wider range of governance services to our clients,” Butcher continued.

“With the acquisition of Inside Pensions last year and now PTL, ZEDRA is fast becoming a leading player in the UK.

“The acquisition further cements and consolidates PTL’s position in the market as one of the leaders in the outsourced pensions governance service space in the UK. It strengthens our clients and, importantly offers even more opportunities to our people. It’s a very exciting time for us all.”

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