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››PE Firm Ink paying over £ 25m with UK Pensions Watchdog

PE Firm Ink paying over £ 25m with UK Pensions Watchdog

By Linda Glidden
May 7, 2021
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By Najiyya Budaly (March 2, 2021, 4:45 p.m. GMT) – U.S. private equity firm HIG Group has agreed to pay £ 25m ($ 35m) to settle with the UK Pension Commission after allegedly forcing a UK bed manufacturer into bankruptcy so that she could buy the company out of administration with no pension obligations.

The Pension Commission announced Tuesday that HIG has deposited £ 25million into the Silentnight Group’s defined benefit pension scheme, bringing the total proceeds from the bankruptcy proceedings to £ 35million. The guard said that HIG and its executives have denied the allegations.

“In our view, HIG created the unnecessary bankruptcy of the original Silentnight Group in order to …

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