InvestAcc Group has completed the acquisition of a business segment from AJ Bell.

Specialist pension administrator InvestAcc, listed in London, said it has acquired the pension administration client books which formed part of the AJ Bell non-platform business for a maximum consideration of £25m.

An initial cash consideration of £17.5m has been paid and £1m of ordinary shares have been issued to AJ Bell. The deferred consideration, of up to £6.5m, will be payable in the first half of 2026, subject to the achievement of specific client transfer targets.