Macfarlanes advises Isio in connection with its proposed acquisition of Deloitte UK’s pensions business

13 January 2023

Macfarlanes has advised Isio on the debt financing, management equity and management employment arrangements in connection with Isio’s agreement to acquire Deloitte Total Reward and Benefits Limited (DTRB), the UK pensions advisory business of Deloitte LLP.

Isio is a leading independent UK provider of actuarial consulting, pensions administration, investment advisory, employee benefits and wealth management services, and was formed in 2020 through a corporate carve-out of the pensions advisory practice of KPMG LLP, backed by Exponent Private Equity, on which Macfarlanes advised Exponent.

DTRB provides pensions actuarial, administration and investment services to some of the biggest organisations and pension plans across the UK.

The acquisition and addition of DTRB’s 200-strong workforce to Isio’s existing team will create one of the largest pensions advisory businesses in the UK, once completed, and is subject to FCA regulatory approval. 

The Macfarlanes team was led by finance partner Kirstie Hutchinson and corporate and M&A partner Stephen Pike, with assistance from finance associate Owen Giles, corporate and M&A associates Henry Cooksey and Francesca Bird, and employment senior associates Michal Stein and Kayleigh Leonie.