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XPS Pensions Group PLC on Monday said it will buy Polaris Actuaries & Consultants Ltd, aimed at speeding up its diversification strategy. XPS Pensions, a Reading, England-based pensions consulting and administration company, said it will pay a consideration of £23.4 million upon completion of the acquisition of the London-based insurance and consultancy business with a blue chip client base. An additional contingent cash consideration of up to £35.0 million will be payable in three years, depending on achieving certain stretching business performance criteria. XPS Pensions said Polaris provides a range of services from large scale, multi-disciplined transformation programmes to specialist project support for some of the UK’s largest insurance companies. In 2024, Polaris generated revenue of £17.7 million at a 25% normalised adjusted earnings before interest, tax, depreciation and amortisation margin. XPS Pensions expects the acquisition to close on Friday and ‘to be immediately earnings accretive.’ XPS Pensions Co-Chief Executive Officer Paul Cuff said: ‘We are delighted to have the Polaris team join us, via this attractive strategic acquisition for XPS. We have highly complementary skills and together we can provide the full range of services that insurers need as they address opportunities and challenges in their own thriving market. This transaction provides a direct path to the group becoming a market-leading Insurance Consulting provider. It is also brilliant for our people, as in time it will broaden the range of career paths available to them as we become a broader financial services advisory firm.’ Roger Houlihan, partner & founder of Polaris, said: ‘I am delighted to join the XPS team, a move that will allow us to build on the success we have achieved while expanding our capabilities. I am extremely proud of the business we have built and am excited about the future. We are looking forward to expanding the scale of our operations as we continue to work with our clients to provide a truly market-leading service offering. This is a big opportunity for the Polaris team and XPS, with the backing and expertise of a larger organisation we are looking forward to providing a more comprehensive service offering to our newly combined client base.’ XPS Pensions shares were 0.6% higher at 391.47 pence each on Monday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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