FTSE 250 manufacturing firm Senior has completed a £180m (€207m) bulk purchase annuity (BPA) buy-in with M&G, securing pension benefits for over 3,000 members of the Senior plc Pension Plan.
The transaction was done by M&G’s wholly-owned subsidiary The Prudential Assurance Company, and was completed in 2025.
LCP acted as lead transaction adviser for the lan with Osborne Clark providing legal advice to the trustee. CMS provided legal advice to M&G.
“This was a key de-risking milestone for both the Plan and for Senior plc,” said Sarah Leslie, director at ndapt and the plan’s newly appointed chair of trustee.
“The process ran smoothly and the highly collaborative approach between M&G and the Plan’s advisers was instrumental to ensuring a successful transaction.”
Senior is an international engineering solutions provider that designs and manufactures high-technology components and systems for the principal original equipment manufacturers in the worldwide aerospace, defence, land vehicle and power & energy markets.
Last month it announced the sale of its aerostructures business as part of a strategy to become a leading global fluid conveyance and thermal management company.
M&G delivered £1.5bn in new pension risk transfer business volumes in 2025 through the completion of 11 transactions.
Last week it announced a £235m deal for Avon Cosmetics Pension Plan.
