Pheonix Equity Partners almost finished the deal to acquire Key Retirement Solutions Ltd from Cabot Square Capital. The deal, expected to close in August is subject to regulatory approvals. The transaction also represents a return worth five times its original capital.
Cabot Square Capital, based in the United Kingdom, is an investment capital firm geared towards small to mid-sized companies in the Western Europe region. Cabot Square's enterprise value in Key Retirement Solutions is £35 million with an additional £2 million held cash.
The company is also the United Kingdom's largest independent provider of loans for equity release. Recently, the company also included services like estate planning, making it among the top ten distributor of annuities.
When asked about the company's decision to sell KRS, Partner at Cabot Square Capital James Clark commented: "KRS has been a fantastic success story over the last six years, expanding organically and through acquisition to provide multiple offerings for people in or approaching retirement. We are pleased to have supported KRS through its significant growth period to become the UK's leading supplier of retirement services to the over 55s, whilst at the same time retaining its status as a trusted advisor."
Join the Conversation