My Pension Expert secures £25 million refinancing loan from OakNorth

My Pension Expert has today announced a £25 million refinancing deal with digital lender, OakNorth. The deal has allowed the business to pay down existing lender Beechbrook in full, while also providing an acquisition facility for future strategic M&A.

My Pension Expert, backed by Palatine Private Equity, is the UK’s leading at-retirement adviser and a certified B Corporation. Based in Doncaster, the business provides independent financial advice to consumers nationwide via telephone and video conferencing.

Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £1m-£100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.

The refinancing is a significant step for My Pension Expert, enabling the business to build on its sustained growth. The deal underscores the strength of My Pension Expert’s business model and long-term vision.

The funding will support My Pension Expert’s targeted acquisition pipeline, with a clear focus on strategic M&A as a core driver of the business plan alongside a strong, sustainable organic growth plan. Acquisitions will play a key role in expanding market reach and building value through carefully chosen partnerships. My Pension Expert is well placed to scale sustainably while continuing to deliver for its customers and stakeholders.

This new funding package follows recent key appointments to the company’s strong management team to scale up its operations and fulfil its mission of increasing consumer access to independent financial advice.

My Pension Expert was advised on the deal by the debt advisory team at Clearwater. Gateley provided legal support to the company, with financial due diligence provided by Cortus Advisory.

Andrew Megson, CEO of My Pension Expert, said: “We’re delighted to be partnering with OakNorth as we take this exciting next step in My Pension Expert’s growth journey. From the outset, the team there have demonstrated a deep understanding of our business and a clear belief in our long-term vision.

“Not only is this a vote of confidence, but it also gives us the financial flexibility to keep building momentum. It’s a really exciting time for the business; we’ve got big plans to grow – and grow fast. With such a strong leadership team in place, we’re well positioned to innovate, expand, and take My Pension Expert to the next level.”

Kieran Lawton, Senior Investment Director at Palatine, said: “This refinancing was possible due to the company’s strong trading performance plus the hugely successful acquisition and integration of Tenet&You last year. OakNorth’s support will help facilitate more M&A on top of MPE’s very strong underlying organic growth and we’re very much looking forward to working alongside them.”

Stewart Haworth, Director of Debt Finance at OakNorth, added: “My Pension Expert is an exceptional example of a digitally enabled, mission-driven business transforming access to retirement advice for underserved consumers. Their ability to scale efficiently while maintaining regulatory rigour and client satisfaction sets them apart in a traditionally fragmented market. With strong backing from Palatine and a proven leadership team, the business has already demonstrated impressive growth and integration capability, as seen in last year’s Tenet&You acquisition. We’re delighted to support their next phase of expansion and to partner with a firm that is making high-quality financial advice more accessible to thousands across the UK.”