Xafinity plc (LON:XAF) is a UK specialist in pensions actuarial, consulting and administration business providing a wide range of advisory and compliance services to over 550 pension scheme clients which operate in a highly regulated environment. The company combines expertise, insight and technology to address the needs of both pension trustees and sponsoring companies, primarily of UK defined benefit pension schemes. There are already more than 400 employees, of whom approximately 90 per cent are client facing, with offices in Reading, Leeds, Stirling, Belfast, London and Manchester.
Company origins trace back over 40 years to the formation of Hogg Robinson Benefit Consultants during the 1970s. It became part of the Equiniti Group in 2010, under whose ownership it remained until 2013, when it was acquired by Private Equity house, CBPE Capital. Since becoming independent, XAF has benefited from invaluable support and significant investment from CBPE, which has contributed to its success as a stand-alone business. This listing enables XAF to restructure their balance sheet and provide a full exit for CBPE.
Ben Bramhall and Paul Cuff Joint CEO’s of Xafinity plc said, “Zeus have provided an outstanding level of support and performed on every aspect of the deal. Their all-round expertise and ability to deliver is evident from the comfortably over-subscribed placing we received and the quality of our initial shareholder register. We look forward to continuing our strong relationship with Zeus as we begin an exciting life as a plc.”
Ian Moore a partner at CBPE Capital said, “CBPE were hugely impressed by Zeus Capital, who showed incredible commitment to delivering a successful outcome for all parties. CBPE are also delighted by the blue-chip quality of the shareholder base which will support the business in the next stage of its development.”
John Goold the CEO, Zeus Capital commented, “I am delighted that Zeus Capital has been able to help Xafinity attract such a strong list of blue-chip institutional shareholders to support Xafinity as it embarks on its next phase as a public company. Xafinity stands out as a company with the highest quality of earnings and a tremendous management team in a sector set for structural growth. Well done to the whole Zeus Capital team who worked tirelessly to achieve this.”
Zeus Capital is acting as Financial Adviser, Sole Bookrunner and Sole Broker to Xafinity plc on its Main Market IPO and £180m institutional fundraising.