Curtis Banks (CBP:AIM) says it is facing limited competition in its acquisition-led drive to become Britain's largest standalone self invested personal pension (SIPP) administrator.
Six deals have been completed by the Bristol-based firm in the last five years – a few of them secured without a rival bidder, according to finance officer Paul Tarran.
Further consolidation could be on the cards in the year ahead as smaller rivals battle with increased capital requirements, management say alongside full-year results published.
'We're now the number two dedicated SIPP provider in the UK and as well as the acquisitions we've made along the way, we're also seeing good organic growth too,' says executive chairman and co-founder Christopher Banks.
A £45 million deal to acquire Suffolk Life, funded by a £27 million equity raise in January 2016 , is awaiting regulatory clearance and will double the size of the business, adds Banks.
On completion, Curtis Banks will have around £18 billion in assets under administration and 66,000 SIPPs in total.
Chief executive Rupert Curtis estimates there are around 1.2 million in SIPPs in the UK.
Further deals are in the pipeline, adds Banks, including opportunities among insurance companies where SIPP administration is not a key focus.
Full-year results show revenue up 69% to £17 million and adjusted operating profit 64% higher at £6.1 million.
Organic growth in the number of SIPPs administered, which excludes SIPPs acquired, is around 13% net of a 5.5% attrition rate, according to an investor presentation. Underlying earnings per share is 11.5p.
Shares in Curtis Banks trade 2.7% higher at 383p.