Mattioli Woods buys SIPP and SSAS firm for £2.2m

The firm provides pension administration and trustee services to 1,500 SIPP and small self-administered scheme (SSAS) clients and has £400m of assets under administration.  In 2015 it generated pre-tax profits of £0.4m on revenues of £1.6m. Its net assets were £0.3m.   Mattioli paid £1.2m upfront for the business, with a further £1m deferred for two years and subject to financial performance. Mattioli said it plans to keep MC Trustees' management team following the acquisition, and expects overall earnings to be enhanced by the deal. Chief executive Ian Mattioli said: "This acquisi...