My Pension Expert completes £6.6m refinancing deal

The Doncaster-based retirement adviser completed the £6.6 million refinance deal by way of non-amortising facilities with FDC last month.

The refinancing will free-up significant cashflow for My Pension Expert. This will enable the company to increase market penetration, pursue new projects and expand the business into new and lucrative markets.

My Pension Expert has enjoyed significant year-on-year growth in both turnover and profitability throughout the pandemic. The company’s management team, advised by Yorkshire-based corporate finance specialist, Castle Square, identified a funding requirement to support its ongoing growth, which led to the deal with FDC.

Andrew Megson, executive chairman at My Pension Expert, said: “This deal marks a significant and exciting step for the business. My Pension Expert has enjoyed an extremely strong performance over the past two years, and this refinancing deal will further accelerate the company’s growth.

“We now have the financial backing to enhance our client offering as we continue to provide tailored advice to clients looking to consolidate their pensions. It will simultaneously allow us to pursue new projects, such as our new high net worth venture, Imperium Advice, which we are set to launch in the coming months. We look forward to working closely with FDC over the years to come as we further My Pension Expert’s offering.”

Ondrej Okeke, Investment Director at Frontier Development Capital, said: “The growth capital and refinancing package provided by Frontier Development Capital will support My Pension Expert’s expansion plans – with the business planning to enter new market areas.

“My Pension Expert has an excellent reputation for providing quality independent pensions advice. We look forward to working closely with Andrew and the management team, helping the company realise its long-term growth potential.”

FDC provides flexible long-term debt funding of up to £7.5m for growth capital, shareholder transactions and property development to businesses across the United Kingdom.

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