JFM acquired by Capita
The business process management firm Capita has acquired Vertex Mortgage Services, which includes Jessop Fund Managers (JFM), for £35 million.
This acquisition is on a cash free, debt free basis and has been approved by the Financial Conduct Authority.
JFM believes the acquisition will enable it to offer high quality products and servicing to its customers.
JFM specialises in the administration and management of unit trust pension schemes. Its parent company, Vertex Mortgage Services has successfully worked with Capita on a number of occasions.
JFM managing director David Hughes commented: “JFM is a growing business and the acquisition by Capita, which is the UK’s leading provider of professional support services and business process outsourcing, will only help us to provide the very best service to our clients.
“Capita works with over 20 well-trusted UK financial services providers, administering 20 million life, savings and pension policies. We’re looking forward to combining their expertise in servicing and JFM’s experience as a pension provider.”