Capita Hartshead buys Gissings for undisclosed sum

Capita Hartshead has bought Gissings for an undisclosed sum. Capita Hartshead says the acquisition will add further capacity and expertise to its actuarial and pensions consultancy business, especially in London and the south-east.

Gissings, which was established in 1970, employs around 50 staff and currently has offices in London. Gissings’ administration clients, currently administered under an outsourcing arrangement with HCL, will transfer to Capita Hartshead’s administration team.

Eighteen months ago founder and managing director of Gissings, Sean Breslin sold off the organisation’s group risk arm, Gissings Advisory Services, for £18m in a management buyout headed up by Andrew Kilbey and backed by private equity group Dunedin. GAS has since been rebranded as Enrich Reward.

Mike Addenbrooke, managing director at Capita Hartshead says: “We are delighted to welcome Gissings to Capita Hartshead. Gissings has an excellent track record of providing innovative, cost effective advisory solutions to its clients and there is obviously a great synergy in our styles of working. This acquisition will complement our existing services and enhance our market standing.

“Despite the current tough business environment, demand for our administration and consultancy services is increasing. By bringing an established, well-respected business into the Capita Hartshead fold, we are positioning ourselves for continued future growth in line with our business strategy.”

Malcolm Pearce, pensions operations director of Capita Hartshead says: “We are very excited about this acquisition which reinforces our growth strategy in the consulting area. We are looking forward to welcoming the Gissings team and working with them to integrate both the Capita Hartshead and Gissings offerings to all our clients.”