IFG buys two Irish pension firms for €13.6m

FINANCIAL services group IFG has strengthened its Irish-based pensions and investments division by acquiring two companies for almost €13.6 million.

The Dublin-based group has bought pensions administration and consultancy services firm Pensco — in which Co Kerry-based group, Fexco was the majority shareholder — for up to €7m. This is made up of an initial consideration of just over €4m and a deferred potential payment of €3m.

The other purchase is Dublin-based corporate pensions firm which trades under the name PSL Consulting. IFG is paying up to €3m in total and an initial payment of €1.8m.