Hogg Robinson pensions arm for sale – report
UK – Hogg Robinson’s employee benefits consulting arm is set to sold, according to a newspaper report.
The Times said that private equity firm Permira – which bought Hogg Robinson in 2000 for about 440 million pounds – has put the businesses on the market. The paper did not name the source of its information and neither Permira nor Hogg Robinson were prepared to comment.
The Times said the businesses, Entegria, Paymaster and Claybrook, would be sold as a single package.
It added that Permira has appointed Citigroup to manage the sale of the businesses.
Permira hit the headlines in the summer when the trustees of the WH Smith pension scheme blocked a 940 million-pound (1.4 billion-euro) approach by Permira to take the company private.
Earlier this month PricewaterhouseCoopers signed up to implement Compendia, Claybrook’s new pensions administration system.