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Key Retirement Group sold


Retirement finance specialist Key Retirement Group (KRG) is to be acquired by investment manager Partners Group.

Private equity firm Phoenix Equity Partners agreed to the sale for a transaction value of £208m.

During Phoenix’s ownership of the company, Key Retirement’s profits increased threefold following investment in systems, technology and its workforce.

The Preston-based retirement finance provider was founded in 1998 and specialises in the origination and distribution of lifetime mortgages.

In 2016, Key Retirement advised around 9,000 customers, providing around £530m in lifetime mortgages.

Simon Thompson, CEO-designate of Key Retirement Group, said: "We are very pleased to welcome Partners Group as our new owner and look forward to further building on the significant growth we have enjoyed over the last few years.

Simon added that Partners Group had the right experience and network to support the build-out of the platform and explore new segments of the market.

Andrew Deakin, managing director of private equity Europe at Partners Group, added: "This is a great opportunity to support an established market leader within a high-growth market niche.

“KRG is the leading specialist adviser to the pre-retirement and retirement segment in the UK and has demonstrated strong organic growth since its inception.

“The business has significant scope for further value creation and we look forward to working with Simon Thompson and his team to build-out KRG's service offering over the next several years."

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