Bristol-based pensions and employee benefits communications firm Concert Consulting, which works with blue-chip clients such as the AA and Nationwide, has been sold to a US-based global HR benefits and consulting group.
Concert, which was founded by managing director Peter Walsh in 2004, specialises in communicating to more than 3m employees and plan members. Its services range from consulting, design and copywriting to digital build and data-driven mailing services.
Its client portfolio includes Chevron, Hewlett Packard, General Electric, Royal Mail, Santander and RBS as well as the AA and Nationwide.
Its sale to New York-based Buck, which offers HR and benefits consulting, administration and technology solutions to businesses and pension scheme trustees, significantly expands the US firm’s UK presence.
Buck said it would now step up developing and implementing tailored engagement strategies for its UK-based and multinational clients, particularly in the high-demand area of pensions administration.
Clients will directly benefit from personalised communications, and employees and members will have technology-enabled, user-centric ways of interacting with their benefits, it said.
The business will now be known as Concert, a Buck company.
Mr Walsh – who will remain with the business – said: “We’ve developed outstanding relationships with our clients through the strategy and delivery of new ways of communicating with their employees and members.
“What excites me most about being part of Buck is the ability to introduce our results-oriented thinking to a broader set of clients while also expanding our reach with respect to the subject matter we focus on.”
Buck UK managing director David Piltz added: “Effectively engaging employees and plan members is a growing priority for the pensions and employee benefits industry. 
“Through our acquisition of Concert, we can now fully meet our clients’ requirements, partnering with each to understand their goals and deliver tailored messages to employees and members that provide a high-quality user experience.”
Peter Walsh received legal, commercial and strategic advice from corporate partner Simon Hore and solicitor Conor Melvin of Thrings. This included running the legal due diligence exercise and reviewing and negotiating the share purchase agreement.
Accountancy group Smith & Williamson’s Bristol corporate finance team, led by Martyn Fraser and Ronan Brophy, also worked on the deal, financial details of which have not disclosed.
Mr Walsh said: “For the sale all parties worked hand in glove with Thrings – their responsiveness and thorough attention to every little detail really made the difference, especially when timescales got tight.”
Simon Hore, pictured, added: “We were delighted to advise Peter on the sale of Concert Consulting, which he has successfully grown over the past 16 years into a market leader in the field of employee benefit communications and engagement.
“Joining Buck will provide Peter and his team with a solid financial foundation and infrastructure from which to access more markets around the world, strengthen its domestic and global reputation and, crucially, meet the long-term needs of its customers.”
Mr Walsh also praised the role of Smith & Williamson in the deal.
“We found a partner who shares the principles which are crucial to our own client relationships. The team delivered impartial, clear advice throughout the project and we developed a fantastic working relationship,” he said.
“Their guidance proved to be the defining factor in delivering this successful outcome and I would not hesitate to recommend them.” 
Martyn Fraser, pictured, said: “Concert is an outstanding business with a market leading reputation for innovation in the way employers and trustees communicate with their employees and members.
“It was no surprise that the business attracted interest from a global buyer pool but in Buck it has found a strategic partner to help bring its cutting-edge solutions to an even broader client base.”
Buck was advised by lawyers at Hogan Lovells in London and Kirkland & Ellis in Los Angeles.
