07 November 2019

Further increasing its presence in the UK investment savings sector, the transaction will bring more than £6 billion of Assets under Administration (AuA) along with 30,000 new clients to Embark, taking the total scale of the Embark Group to over £22bn AuA on behalf of over 180,000 consumer clients. As a result of the strategic acquisition, Embark will also gain the benefit of a highly skilled specialist team.
The deal also includes the purchase of the Alliance Trust Savings building in Dundee, which will become Embark’s platform operation centre and Group headquarters, with platform service partner FNZ also occupying space in the building.
The acquisition cements Embark’s position as one of the few long-term players in the UK retirement space able to offer a full range of capabilities suitable for all levels of client affluence and distribution channels. It follows a recent material capital raise of £39.4 million, a deal on which the Burges Salmon team also advised Embark, that included funding from new investors; BlackRock, Legg Mason and Merian Chrysalis.
The Burges Salmon team that advised Embark was led by Corporate team partner Mark Shepherd and senior associate Alex Lloyd.
Phil Smith, Group Chief Executive at Embark group, says: “Burges Salmon again exceeded our expectations in what was a complex technical project, with multiple and layered legal arrangements. We continue to be impressed by the strength in depth of the team, and their relentless desire to get the job done, right, for their client.  We have completed more than ten trades with them now in the last six years and we wouldn’t even think to go elsewhere should we have a corporate transaction of any kind.”

Key contact

Mark Shepherd

Mark Shepherd Partner

  • Head of Private Equity
  • Corporate
  • Healthcare

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