Xafinity has acquired Hazell Carr which will be led by Xafinity chief executive Tim Robinson.
Founders of Sipp provider and pension administration firm Hazell Carr, David Carr and Graham Hazell will be staying on as consultants to see the integration through but will be leaving once the deal is complete.
The combined group will have revenues in excess of £125m and around 1,500 employees throughout the UK.
Hazell Carr’s head office will be integrated with Xafinity’s head office functions based out of Reading and Crawley.
Robinson says: “We have a stated ambition to become the leading force in the UK pensions and benefits marketplace. This transaction brings together two respected brands with long track records of service and delivery and marks an important step towards creating a more consolidated, efficient marketplace.
“This combination will allow us to further strengthen our position as a leading provider of services to the UK pension and employee benefit marketplace. In addition Hazell Carr’s expertise in Ssas’s and Sipps will accelerate the development of our group Sipp business.”
Departing Hazell Carr CEO David Carr says: “This is an excellent transaction for our clients and employees and enables the business we built to become part of one of the leading pension service companies in the UK. Hazell Carr has had a long association with Xafinity as well as considerable respect for Xafinity’s products and people. Together, we will present a much stronger proposition in our market places than we could do separately.”