Capita’s pensions business, Capita Hartshead, announces today that it is to acquire employee benefits firm, Bluefin Corporate Consulting. The deal, worth £50 million, will see the two businesses merge, resulting in Capita significantly broadening its pensions and employee benefits offering.
Bluefin Corporate Consulting provides employee benefits consultancy to medium and large corporations. In addition to its consultancy services, Bluefin has developed award-winning benefits management technology, which supports the delivery of an increasing number of services across the group and is used by more than 150 clients with over 80,000 employees.
Mike Addenbrooke, who will become non-executive chairman of Capita Hartshead when the deal completes, said: “Our clients face major challenges over the coming months and years. These include both the evolving legislative and regulatory landscape, such as auto enrolment, and continuing social and behavioural change. This merger will add considerable new market reach and broader expertise to our range of services. The deal will mean Capita has a stronger presence in investment consultancy, the insured pensions sector, flexible benefits and health and risk benefits allowing us to better help our clients meet the challenges ahead.”
The deal will also see Bluefin Corporate Consulting’s chief executive Nick Burns become chief executive of the combined business. He said: “Clients want to work with talented people who really understand and care about them. I believe that Capita Hartshead’s strength in pensions administration, actuarial and consulting, together with Bluefin’s award-winning employee benefits expertise and market-leading online technology, will combine to deliver a wide range of client services. With the full backing of a FTSE 100 company, this new business will be able to provide genuinely innovative solutions to the rapidly evolving and increasingly dynamic employee benefits market.”
Bluefin Corporate Consulting employs 548 people, principally in London and across 8 further offices throughout the UK.
The acquisition excludes the general insurance and wealth management arms of Bluefin and is subject to approval by the FSA.
Pamela Flores is an events professional with experience at Symposium Events, a UK-based conference and events organization. She has worked in editorial and event coordination roles within the HR and expatriate management sector, contributing to the organization of major conferences including the Expatriate Management and Global Mobility conference. Her background spans online editorial work and events management within the professional conference industry.
- Pamela Flores
- Pamela Flores
- Pamela Flores
- Pamela Flores
