Delta Financial Systems Limited, based in Birmingham, is an award winning software business that provides technology to power complex pensions administration in the UK market. Delta’s highly regarded products support the administration of self-invested personal pensions (SIPPs) and small self-administered schemes (SSASs), including the full range of complex client drawdown options available under the pension freedoms legislation. Delta’s technology currently supports the needs of more than 30 UK clients.
The acquisition broadens Bravura’s product suite with Delta’s products representing a natural extension to Bravura’s core Sonata offering and expand Bravura’s ecosystem of products and services. The acquisition also provides an opportunity to offer Bravura’s other products to Delta’s client base.
Dealing with a listed business in a highly regulated sector and knowing that the sellers would continue to work within the buyer for the foreseeable future called for deep understanding of the important issues and the need to maintain forward momentum and collaboration with Bravura’s advisors.
Mike Power, CEO of Delta Financial Systems, said: “I thank Mills & Reeve for all their efforts in working with us to achieve this transaction. Mills & Reeve provided valuable management and oversight of the acquisition process as well as strong leadership of the constructive, commercial and pragmatic engagement between Delta as sellers and Bravura as buyers. This acquisition is an important and exciting and step forward for Delta in supporting our valued clients.”
Peter McLintock, partner at Mills & Reeve’s Birmingham office, said: “We have supported Delta from its early days and the end result of this acquisition was happy clients who are very satisfied with their deal and very excited about joining the buyer’s group. A win-win for all. A particular thanks to Katharine Robinson and Jade Brooks for their hard work on this with me.”
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