Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Embark Group acquired by Lloyds at 11.6x revenue

Embark Group acquired by Lloyds at 11.6x revenue

Thu, 29 Jul 2021 | BUSINESS SALE



Savings and pensions provider Embark Group has been acquired by Lloyds Banking Group for £390 million, an 11.6x multiple of the group’s last reported revenue of £33.5 million. The takeover also includes several of Embark’s subsidiaries, with the exception of Rowanmoor.

The deal is expected to close by the end of the year and will add £35 billion in assets under administration and 410,000 consumer clients to Lloyds’ business. Jackie Leiper, currently Managing Director Workplace Savings and Distribution at Lloyds’ subsidiary Scottish Widows, will become CEO of Embark post-acquisition.

The acquisition of Embark, which claims to be the UK’s fastest-growing digital retirement firm, will help Scottish Widows in its aim to digitise some of its services. It will also enable it to manage client needs more efficiently and streamline the onboarding of new clients, Scottish Widows said.

Post-acquisition, Lloyds will invest in the company in order to “accelerate Embark’s proposition and service innovations for the intermediary sector”. The acquisition is seen as part of Lloyds’ ongoing strategy of expansion in areas of financial services in which it does not hold market-leading status.

Incoming Embark CEO Jackie Leiper said: “We know that digital engagement is key to helping people visualise their financial future and this acquisition offers huge potential for us to take our retirement proposition to the next level.”

“It’s more important than ever that advisers supporting clients in navigating long-term savings decisions are supported by the right products and services, and this will help us build the best possible experience for intermediaries to meet their customers’ evolving needs, expand our distribution reach and boost our capability to unlock new opportunities, backed by the deep-rooted trust in our brand.”

Embark Chairman David Barral added: “The combination of Lloyds Banking Group’s financial strength and distribution reach, combined with the agility, digital capability, and expertise of Embark, will provide the perfect opportunity to create a market leading proposition for consumers, intermediaries, and strategic partners.”


Find businesses for sale here.

If you are looking for an exit, we can help!


Share this article



Latest Businesses for Sale

Sales and Management Consultants
UK Wide

Provides face-to-face and online training courses, consultancy work and auditing of sales effectiveness. Services offered by the business allow clients to measure the performance of individuals within their organisations, which enables organisational...

Asking Price: Offers Invited
Turnover: £363,187

RELOCATABLE


Recruitment Consultancy within the IT Sector
UK Wide

Highly reputable recruitment consultancy fulfilling both permanent and contract vacancies within in the IT sector. Specialising in the IT sector the company has in-depth industry knowledge working closely with Higher Education Government and Healthca...

Asking Price: Offers Invited
Turnover: £6,250,000

Business Development Professional Services and Training Provider
South West, UK

Assists clients to improve their capability to win new business through the provision of benchmarking services, process development, consulting services support and training. Operates to ISO 9001:2015 standards. Benefits from over 50 clients, 90% of...

Asking Price: Offers Invited
Turnover: £2,925,392

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
24
 
Jun
 

E-commerce imports retailer up for sale for £1.6m | BUSINESS SALE

Deals Incorporated, a Manchester-based e-commerce retailer t...

 
23
 
Jun
 

Auto Trader completes acquisition of Autorama at nearly 16x gross profits | BUSINESS SALE

Auto Trader has completed the acquisition of new vehicle lea...

 
22
 
Jun
 

Acquisitive ESG consultancy set to be sold | BUSINESS SALE

An acquisitive environmental and sustainability consultancy ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
17
 
Feb
 

McKesson eyes £400m sale of Lloyds Pharmacy | BUSINESS SALE

US-based group McKesson has hired bankers to explore a poten...

 
04
 
Nov
 

Sainsbury's considers sale of banking division | DIVISION SALE

The new Sainsbury's boss has reportedly begun exploring...

 
29
 
Oct
 

Interactive Investor sells ATS businesses | BUSINESS SALE

Retail investment platform Interactive Investor (II) has ann...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2022. Business Sale Report Ltd. All rights reserved. www.business-sale.com.