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Invesco boosts AJ Bell stake

Invesco Perpetual has pumped a further £9.4m into AJ Bell, valuing the business at £107m.

Invesco’s stake in the Sipp provider is now around 23 per cent.

In February 2007, Invesco and Midas Capital bought £14m of shares in AJ Bell, with Invesco taking a 15 per cent stake and Midas increasing its stake from 12 per cent to 15 per cent.

The new £107m valuation of the company is a 37 per cent increase on the February 2007 valuation.

AJ Bell chief executive Andy Bell remains the single biggest shareholder, with a 37 per cent stake, with the remaining 25 per cent owned by management and employees.

Bell says “The Sipp market needs financially strong players who are willing to innovate. This transaction is a sign of our commitment to continued independence with the support of heavyweight institutional investors.”

Meanwhile, Xafinity has acquired Sipp provider and pension administration firm Hazell Carr.

Hazell Carr founders David Carr and Graham Hazell are to leave once the deal completes and the firm will be led by Xafinity chief executive Tim Robinson.

The combined group will have revenues of more than £125m and around 1,500 employees throughout the UK.


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