IGG expands into pensions comms with Like Minds acquisition
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Trustee firm Independent Governance Group has bought communications specialists Like Minds. The acquisition will broaden IGG’s offering to include employee engagement services for both schemes and employers.
The founder directors of the creative comms agency, Nick and Moira Throp, will step down, with current managing director Judith Groves set to lead the company. Groves, who joins IGG as a director, has 30 years of experience in communicating pensions, benefits and rewards. Like Minds will continue as a separate brand in the IGG portfolio.
“Pensions can be complex. Members and employees alike can find the topic daunting, so good communication is critical to any well run scheme. This is why we are so excited to welcome the Like Minds team to the IGG portfolio,” said chief executive of IGG Andrew Bradshaw.
Groves said: “Working with IGG is a unique opportunity to accelerate our strategy to bring our creativity, expertise and Money Minded to a much larger population of employees and members, and to grow our already brilliant team.”
The deal is the fourth backed by private equity firm LDC, whose investment director Phil Hinson said: “Adding Like Minds to the group will enable IGG to further expand its services at a critical time for the industry. Pension schemes are contending with complex economic conditions, making clear, accessible communications with employees and scheme members more important than ever.”
IGG was formed through the merger of Ross Trustees and Independent Trustee Services in February this year, when IGG also bought Karein Davie’s business Clarity Trustees. Ross Trustees bought Michael Clark’s CBC Pension Services last year.
A spokesperson for IGG said the firm aims to be the destination of choice for other providers of trusteeship and governance services looking to join a larger firm, meaning further acquisitions might “well” happen.
