Xafinity, a UK-based maker of pension administration software, has acquired rival Hazell Carr. No financial terms were disclosed. This is Xafinity's first acquisition since being acquired in 2005 by Duke Street Capital.
Xafinity, one of the UK's leading providers of pensions software, employee benefits consulting and pensions administration, has acquired Hazell Carr, one of its premier competitors and a highly respected brand in its market.
Hazell Carr is a specialist Business Process Outsourcing (BPO), pension administration, interim resource, and Self Invested Personal Pensions (SIPP) provider. By combining these complementary businesses, Xafinity will strengthen its position in this fragmented and rapidly developing sector. This is Xafinity's first acquisition since it was acquired by Duke Street in 2005, and is the company's first step towards leading consolidation in this sector.
Duke Street has a highly successful track record of developing buy and build programmes to support growth within its portfolio companies. This acquisition sees the initiation of Xafinity's buy and build strategy and it is anticipated that the business will continue to seek attractive acquisition opportunities to supplement its strong organic growth. The transaction demonstrates Duke Street's commitment to post-investment transformation.
The combined group, headquartered in Reading, will have over 1500 employees and revenues in excess of