LONDON: XPS Group has agreed to acquire the trade and assets of Austin Professional Resourcing LLP, a U.K.-based actuarial consultancy serving insurers and financial sector clients, the pensions and insurance consulting firm announced.
The deal, expected to close on or around July 31, will be funded through XPS’s existing cash reserves and available debt facilities. XPS said the acquisition advances its strategy to expand into financial services consulting and administration.
Under the terms of the agreement, XPS will pay £3.3 million upon completion, with an additional £3 million due by March 31, 2027. A further contingent payment of up to £10 million may be made over the following two years, depending on performance targets. APR generated revenues of £10.7 million in the year ended March 31, 2026, placing the transaction at less than one times revenue.
Founded in 2006, APR has worked with more than 45 insurers and financial sector clients over the past three years, including most of the U.K.’s top 10 insurers. The firm employs more than 70 client-facing staff and reported a client Net Promoter Score of plus-70.
APR’s expertise in the U.K. general insurance consulting market — estimated to be worth approximately £1.5 billion annually — is central to the acquisition’s strategic rationale. The firm counts more than 20 general insurers among its clients, which XPS said would strengthen its position across both life and general insurance markets.
The combined operation would pair APR’s team with XPS’s existing insurance consulting and actuarial staff to expand the group’s capabilities and client reach.
XPS said it expects the acquisition to be earnings-enhancing in its first full year of ownership, with return on invested capital exceeding the group’s cost of capital by the third full year.
Deloitte, PwC and Osborne Clarke advised XPS on the transaction.
Paul Cuff, Co-CEO of XPS Group, commented: “We are delighted to announce our transaction with APR, and we look forward to welcoming our new colleagues to XPS. We have been admirers of the APR business for some time, with its strong culture, its highly talented people and its deep relationships in the insurance market.
With this transaction, XPS will have doubled our total addressable market to £6bn+ in the space of less than two years, through strategic acquisitions and senior recruitment. We are very excited about what the future holds as we become a broader financial services firm providing outstanding client service to pension schemes and insurers alike.”
Roger Austin, Founding Partner of APR, said: “Since founding APR 20 years ago, we have been guided by our purpose: nurturing our talented people and delighting our clients. Recruiting great people and investing in their development has enabled us to continually build trust and delight our clients, the keys to growing our market share.
When looking at potential strategic partners, we focused on two key factors: cultural fit, and clear strategic growth opportunities. We believe that XPS is a great match against both and are delighted with our new home. We are excited about the opportunity to jointly deliver a much more comprehensive service to the insurance sector.”
