Preservation Capital to buy Parmenion Capital from Standard Life Aberdeen

Preservation Capital Partners Ltd. agreed to acquire investment and technology solutions provider Parmenion Capital Partners LLP from Standard Life Aberdeen PLC.

The transaction, which will generate proceeds of as much as £102 million, was part of Standard Life's plan to simplify its adviser strategy.

Preservation Capital is a private equity firm targeting financial and business services companies.

Fenchurch Advisory Partners and Pinsent Masons provided advice to Standard Life, while Hannam & Partners, Kirkland & Ellis, Armstrong and PwC advised Preservation Capital on the transaction.