The pensions administrator completed the deal to buy ATS’s Sipp arm, which comprises almost 6,000 plans and £3bn in assets, in January last year.
Curtis Banks’ annual accounts show the Sipp book was acquired for a cash consideration of £5.5m with the firm paying a further £1.5m one year after the deal was completed.
The firm saw a surge in pre-tax profits during the year, from £730,000 in 2012 to £3.1m in 2013. Turnover rose year-on-year from £3.1m to £8.8m while the number of introducers increased by 50 per cent to 600.
The number of active schemes more than doubled during the period, from 4,863 to 11,743, driven by the ATS Sipp acquisition.
Curtis Banks says it expects radical pension reforms announced during the Budget to have a positive impact on the Sipp sector.
It says: “The directors are confident that the company is well placed to grow further by acquisitions and organically and to fully comply with the proposed regulatory changes to capital adequacy requirements for Sipp operators.
“The directors consider the actual and proposed changes set out in the recent Budget will provide potential positive opportunities for the company.”