Slaughter and May advised FNZ on the sale of Embark to Lloyds Banking Group

Slaughter and May advised FNZ on the sale of the entire issued share capital of Embark Group Limited to Lloyds Banking Group for £390m. The sale is subject to regulatory approvals and is expected to complete in the fourth quarter of 2021. The sale excludes the Rowanmoor SIPP and SSAS administration business, which is being retained by existing shareholders.

Embark was established in 2013 as a digitally led retirement solutions business, and has a long-standing strategic partnership with asset servicing and technology provider FNZ.

The Embark Group, including Rowanmoor, has over £40.8bn of assets under administration on behalf of more than 425,000 clients.