New York-based Buck acquires employee benefits communications firm Concert Consulting
Bristol-based pensions and employee benefits communications firm Concert Consulting has been sold to global HR benefits and human resource consulting group, Buck.
Specialising in the provision of consulting, design, copywriting, digital build and data driven mailing services, Concert Consulting will become part of Buck, which offers HR and benefits consulting, administration and technology solutions to businesses and pension scheme trustees.
The business will now be known as Concert, a Buck company. Financial details of the transaction were not disclosed.
Concert Consulting was founded by managing director Peter Walsh in 2004. Based in Prince Street in the centre of Bristol, the company provides pensions and employee benefit communications services to more than three million employees and plan members. Its client portfolio includes the AA, Chevron, Hewlett Packard, General Electric, Royal Mail, Santander, RBS and Nationwide.
Buck, whose headquarters are in New York, launched in the UK in 2009. The company has offices across the UK, the US, Canada, Germany, Romania and India.
The acquisition is expected to strengthen Concert Consulting’s client base while expanding Buck’s ability to develop and implement tailored engagement strategies for UK-based and multinational clients, particularly in the high-demand area of pensions administration.
Peter Walsh received legal, commercial and strategic advice from corporate partner Simon Hore and solicitor Conor Melvin from Thrings. This included running the legal due diligence exercise and reviewing and negotiating the share purchase agreement.
Peter Walsh – who will remain with the business – said: “We’ve developed outstanding relationships with our clients through the strategy and delivery of new ways of communicating with their employees and members.
“For the sale all parties worked hand in glove with Thrings – their responsiveness and thorough attention to every little detail really made the difference, especially when timescales got tight.”
Simon Hore said: “We were delighted to advise Peter on the sale of Concert Consulting which he has successfully grown over the past sixteen years into a market-leader in the field of employee benefit communications and engagement.
“Joining Buck will provide Peter and his team with a solid financial foundation and infrastructure from which to access more markets around the world, strengthen its domestic and global reputation and, crucially, meet the long-term needs of its customers. We wish Peter and everyone at Concert Consulting continued success as part of Buck.”
Concert Consulting received corporate finance advice from partner Martyn Fraser and associate director Ronan Brophy from Smith & Williamson’s Bristol office.
Martyn Fraser said: “Concert is an outstanding business with a market leading reputation for innovation in the way employers and trustees communicate with their employees and members. It was no surprise that the business attracted interest from a global buyer pool but in Buck it has found a strategic partner to help bring its cutting-edge solutions to an even broader client base.”
Buck was advised by lawyers at Hogan Lovells in London and Kirkland & Ellis in Los Angeles.