XPS Group buys APR for up to £13m

(Sharecast News) - Pensions and insurance consulting & administration business XPS Group said it had bought the trade and assets of Austin Professional Resourcing, a UK-based specialist actuarial consultancy for £3.3m in cash on completion with a further £10.0m payable in years 2 and 3, contingent on achieving certain stretching business performance criteria. "APR has an established team of over 70 client facing employees which, combined with the existing XPS insurance consulting team and access to wider XPS actuarial teams, will provide greater scale and enhanced capabilities to accelerate the Group's diversification into the insurance consulting market," XPS said on Friday.

Reporting by Frank Prenesti for Sharecast.com