London Stock Exchange today welcomed Curtis Banks to AIM

Curtis Banks administers Self-Invested Pension products, principally SIPPs and SSASs. The Group commenced trading in 2009 and has successfully developed, through a combination of organic growth and acquisitions, into one of the largest UK providers of these products. The Group employs approximately 200 staff in its head office in Bristol and regional offices in Dundee and Market Harborough.

Chris Banks, Curtis Banks’ Executive Chairman, is opening the market today to mark the first day of dealings in Curtis Banks’ shares post its successful IPO and admission of its shares to trading on AIM.  Curtis Banks has raised £7.5m from institutions to accelerate its acquisition strategy, valuing the company at approximately £85m on admission.

AIM is a high profile market.  The Directors believe the benefits to Curtis Banks will include:

  • Enhancing the Group’s reputation, credibility and profile with acquisition targets, introducers and clients by virtue of its status as a quoted company
  • Enhancement of the ability of the Group to attract, retain, and motivate key management and staff with share incentive arrangements
  • Providing access to growth capital in order to take advantage of potential acquisitions, if necessary

Curtis Banks Limited, the Group’s principal trading subsidiary, is authorised by the Financial Conduct Authority to provide SIPP products and currently has around 26,000 SIPP clients. The Group trades under the names Curtis Banks and Pointon York SIPP Solutions.

The Executive Directors have a long involvement in the pensions market and identified the opportunity to establish a business that focused on a service-driven proposition for the administration of flexible SIPPs which allow savers to invest in a wide range of investments.

In five years, the business has grown from a standing start to become the third largest dedicated Full SIPP provider in the UK.

The majority of Curtis Banks’ clients are introduced by regulated advisory firms with whom long standing relationships have been established. High levels of repeat business are experienced from these firms, which Curtis Banks takes as an indicator of good levels of satisfaction with the service that it provides.

The Directors are positive about the organic and acquisitive growth prospects of the business and, in addition, given the favourable changes to pension legislation announced in the 2014 Budget, which gave individuals the freedom to access their pension pots more flexibly from 6 April 2015, believe that Curtis Banks is well-placed to take advantage of the opportunities which these changes provide.

Commenting on the successful IPO, Rupert Curtis, Managing Director of Curtis Banks, said:

"The IPO process has been a great success.  The reception from investors and those in the Pensions industry has given us additional confidence to pursue our growth strategy.

"The drivers in our market favour Curtis Banks’ approach to specialising in the administration of SIPPs.  We have demonstrated that we can grow the business quickly and intend to take advantage of the opportunity to continue that trend."

Advisers to the Company:

Nominated Adviser and Broker – Peel Hunt

Financial PR – Walbrook PR

Lawyers to the Company – Roxburgh Milkins

Auditors and Reporting Accountants to the Company – Saffery Champness

Registrars – Computershare Investor Services Plc

For more information:


Curtis Banks Group plc


www.curtisbanks.co.uk


Rupert Curtis – Managing Director


Via Walbrook PR


Paul Tarran – Finance Director


Peel Hunt LLP


(Nominated Adviser & Broker)


+44 (0) 20 7418 8900

 


Guy Wiehahn

 

Elliot Thomas

 

Euan Brown