Self-invested personal pension provider Dentons is eyeing a float on the Aim exchange as one of a number of options to swell its cash reserves in a bid for acquisitions.
The personal pension specialist has long considered entering the acquisition market but lacked the cash and business structure to make the ambitions a reality.
Martin Tilley, director of technical services at Dentons, confirmed reports that a listing on Aim is one of a “number of options” the company is considering that would allow it to raise enough cash to consider purchases.
“If you are aware of Dentons and our financial strength and our growth prospects, we have made it clear before that we are in the acquisition marketplace and in order to fund those there are a number of options that we have considered,” Mr Tilley said.
He added that acquisitions are an “ongoing consideration”.
Consolidation has been an dominant theme in the personal pensions market after tighter capital adequacy rules pushed Sipp companies to consider selling off their self-invested personal pensions businesses.
Back in May, Curtis Banks bough smaller rival Suffolk Life to become one of the largest independent Sipp providers in the UK, administering about 68,000 pension schemes with assets under administration of about £18bn.
Last July, Sipp provider Hornbuckle parent Embark Group bought fellow self-invested personal pension provider Rowanmoor Group.
