XPS Pensions Group, a pensions consulting and administration business, completed the acquisition of Penfida, an independent corporate finance and covenant advisor to UK pension funds, for £12m. "We are delighted to be joining the XPS family, where the culture and values of the firm align with our own. As part of XPS we will be able to continue to provide independent advice to our clients and we will benefit from ongoing investment to enable the combined business to grow and thrive into the future," Paul Jameson, Penfida Senior Partner.