STM Group plc

Cavendish is delighted to announce it is acting as Financial Adviser and Rule 3 Adviser to STM Group Plc in relation to its recommended £39.8m cash offer from Pension Superfund Capital via Jambo SRC (Bidco), and associated MBO of STM Group’s SIPPs business for £4.5m.

STM Group is a leading player in administration of client assets in relation to retirement, estate and succession planning and wealth structuring, to global customers.

Bidco, which was formed earlier this year for the purpose of this acquisition by Pension Superfund Capital, said the deal “aligns with its wider market aim to provide a complete solution, worldwide, to pension savers and sponsors and improve pensions outcomes in an aligned way.”

Matt Goode, Head of Consumer at Cavendish Capital Markets, commented:

“We are delighted to have acted for STM in this complicated transaction, with the offer price representing a premium of 144 per cent. to the STM share price immediately prior to the commencement of the offer period.”