The case dates back to 2011 when the firm’s European arm acquired bedding firm Silentnight.

The Pensions Regulator (TPR) has agreed to a £25m settlement of its anti-avoidance case against the private equity owners of what was once Britain’s largest bed manufacturer Silentnight.

The case dates back to 2011, when US buyout firm’s European arm HIG Europe acquired Silentnight, which had a 23% market share of the UK bedding market, after it was forced to file for administration, while leaving its defined benefit pension scheme behind.

TPR began an investigation following the acquisition and launched an anti-avoidance case.

Read more/Source: Wealth Manager