My Pension Expert website
At-retirement adviser My Pension Expert has secured a £25m refinancing deal through digital lender, OakNorth to help finance expansion plans.
The firm, backed by private equity business Palatine, said the funding will support the brand’s targeted acquisition pipeline.
The deal has allowed the business to pay down existing lender Beechbrook in full, while also providing an acquisition facility for future strategic M&A, it said.
Based in Doncaster and founded in 2010, the business provides independent financial advice to consumers nationwide through telephone and video conferencing.
It is backed by Palatine Private Equity. The private equity firm invested in the IFA in 2022.
It said acquisitions will play a key role in its expanding market reach and building value through carefully chosen partnerships.
Last year it acquired fellow adviser Tenet&You in May for an undisclosed sum.
Andrew Megson, chief executive of My Pension Expert, said the new funding will allow the firm to expand further.
He said: “Not only is this a vote of confidence, but it also gives us the financial flexibility to keep building momentum. It’s a really exciting time for the business; we’ve got big plans to grow – and grow fast. With such a strong leadership team in place, we’re well positioned to innovate, expand, and take My Pension Expert to the next level.”
Kieran Lawton, senior investment director at Palatine, said: “This refinancing was possible due to the company’s strong trading performance plus the hugely successful acquisition and integration of Tenet&You last year.
“OakNorth’s support will help facilitate more M&A on top of MPE’s very strong underlying organic growth and we’re very much looking forward to working alongside them.”
My Pension Expert was advised on the deal by the debt advisory team at Clearwater. Gateley provided legal support to the company, with financial due diligence provided by Cortus Advisory.
My Pension Expert was founded in 2010 and specialises in providing independent advice to UK consumers on their pension plans. The business has a carbon-neutral policy and is offsetting its carbon footprint by monthly contributions to a tree-planting programme in the UK and around the world.
Manchester-based Palatine was founded in 2005 by partners Gary Tipper, Ed Fazakerley and Tony Dickin. It aims to partner with management in business services, financial services, health, education and technology sectors.
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