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Corporate Finance services

If your company finds itself involved in a major corporate deal or a restructuring process, it’s worth remembering that defined benefit (DB) pension schemes can have a big impact on your value. Nevertheless, provided it is managed correctly, pensions risk can be mitigated and value can be unlocked.

That’s not the only risk to bear in mind, though. The new Pensions Schemes Act 2021 has given The Pensions Regulator greater powers to intervene to protect pension schemes in corporate events. It even brings the risk of personal criminal liability in extreme circumstances. In a nutshell, pension scheme risks need to be carefully and actively managed.

Turning challenges into opportunities

  • Thanks to our ‘applied corporate finance’ expertise in pensions, we are ideally placed to co-advise companies exposed to DB pensions risk in navigating the pensions landscape.
  • We can turn challenges into opportunities and help protect member benefits without stifling corporate activity.
  • Our experience of working with the UK Pensions Regulator means we know how it will approach a specific situation. We can use this knowledge to prevent regulatory scrutiny from derailing your deals or restructuring activities.
  • We can help you manage the climate-change assessments performed by your DB schemes and meet your disclosure obligations in the face of increasing regulation.

A leading specialist with a team from a wide range of backgrounds

  • We are the leading specialist provider of pensions corporate finance (‘covenant’) advice and operate without the conflict-of-interest restrictions facing our competitors.
  • We work closely with investment banks and other advisors to manage pensions problems.
  • Thanks to their wide-ranging backgrounds, the members of our team are equipped with all the skills you need, from corporate finance to restructuring and investment.

 

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Corporate events

Defined benefit (DB) pension schemes can be one of the largest stakeholders of a company and their size and risks are rarely publicly disclosed. Understanding the true position of the scheme can unlock value in a corporate deal. The legislation on DB pensions is complex: the ‘right’ answer is never clear and is often situation-specific. Corporate finance and restructuring skillsets are required to consider the ongoing impact of a transaction on covenant.

 

Pensions M&A advisory

With over £2.3 billion in liabilities, UK defined benefit (DB) pension schemes remain a provider of pension benefits to a large proportion of the UK population. These schemes are complex to run, with advice and support required from a wide range of professionals and providers including legal, corporate finance, actuarial, investment, administration, governance, data specialists and many more.

ESG and sustainability integration

Most pension scheme sponsors face challenges from environmental, social and governance (ESG) factors – climate change in particular. While much time and energy has been spent to date on identifying sustainable investment vehicles, trustees and sponsors alike are now also beginning to think about the impact of ESG risks on the employer covenant.

 

Restructuring and special situations

If you’ve even been involved in restructuring a business with a defined benefit (DB) pension scheme, you’ll know just how complex it is. Apart from requiring specialist expertise, the process also needs up-to-date knowledge of the changing regulatory landscape – especially these days, with the increasing likelihood of regulatory intervention (highlighted by the Pensions Schemes Act 2021, which introduces the risk of personal criminal offences).