Fenchurch Advisory Partners is pleased to announce that it is acting as exclusive financial adviser to AXA on the sale of Bluefin Corporate Consulting (“BCC”) to Capita plc for £50 million.
BCC is a leading provider of employee benefits consulting services in the UK. In addition to consultancy services, BCC has developed award-winning benefits management technology, which supports the delivery of an increasing number of services across the group and is used by more than 150 clients with over 80,000 employees.
AXA will retain the Bluefin trading name. Bluefin's other operations, including Bluefin Insurance Group, which is core to AXA's Commercial Lines operation, and Bluefin Personal Consulting, which provides wealth management services, do not form part of this transaction.
Paul Evans, Group Chief Executive of AXA UK and Ireland commented:
"Following the sale of the AXA Life business in 2010, and in particular the corporate pensions business, the consulting services offered by BCC are no longer aligned to our long term strategy and core lines of business. We are pleased to have entered into an agreement with Capita which will ensure that BCC and its customers benefit from the scale and market presence offered by becoming part of Capita's enlarged employee benefits operation."