The London-listed wealth manager has made a UK pension administration business its latest purchase.

The UK's Mattioli Woods has acquired the pension administration business of Lindley Group for £199,001 ($301,000).

The pension business, which was founded in 1979, provides trustee and administration services to over 130 small self-administered pension schemes, with assets under administration of over £116 million. The purchase also includes the entire share capital of Lindley Trustees.

Last year, the business generated revenues of £310,323 and the acquisition is expected to be earnings enhancing in the first full year of ownership.

“With increasing complexity and continuing consolidation in both the SIPP and SSAS sectors, we anticipate there will be further opportunities to expand Mattioli Woods' pension administration business by acquisition, accelerating the group's growth,” said the company's chief executive, Ian Mattioli.

In September, Mattioli Woods acquired Taylor Patterson, a wealth management and employee benefits business in the UK's Northwest for £8.3 million.