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Key Retirement Solutions Set For Further Growth After Phoenix Equity Partners Buy Majority Stake

19 June 2013

Key Retirement Solutions, the leading over 55's specialist adviser, today announces the sale of a majority stake of the KRS Group of companies to Phoenix Equity Partners.

Phoenix Equity Partners is investing along with Key Retirement's management team of Chief Executive Colin Taylor, Managing Director Paul Wilson and Group Directors Dean Mirfin and Richard Overson. The deal, which sees previous investor Cabot Square Capital sell its stake after six years, is subject to regulatory approval.

Key Retirement Solutions has experienced consistent growth and this investment by Phoenix will help accelerate that growth further. Expansion plans include potential new product launches and possible acquisitions building on recent deals that have included the launch of a home buying and selling service Key Move Property Services. Key Retirement Solutions are also continuing to develop and grow strong partnership relationships to help bring the range of services and products offered by the group to a wider audience.

Colin Taylor, Chief Executive of Key Retirement Solutions said: "Since launch KRS has worked tirelessly to improve the level of financial advice available to those approaching or in retirement. We are excited about partnering with Phoenix, a firm with considerable experience of investing successfully  in the retirement segment of financial services, to continue to build KRS into the trusted brand for the over 55s."

Preston-based Key Retirement was founded in 1998 as an equity release specialist. Since then it has grown to be the UK's number one equity release adviser as well as a top 10 annuity broker and a leading innovative equity release lender through more 2 life.

Sandy Muirhead, a Managing Partner at Phoenix, added: "We believe KRS represents a highly attractive platform from which to develop a broader retirement services proposition.  We have strong knowledge of this sector, by virtue of our highly successful previous investment in Partnership Assurance, which we created in 2005, and we look forward to working with the KRS management team to build another leading business in this sector."

James Clark, Partner, Cabot Square Capital said: "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 adviser. KRS is well placed to capitalise on this momentum and we wish them all the best for the next stage of their growth."

For further information, please contact:




Key Retirement Solutions


Dean Mirfin




[email protected]

07879 678737





Citigate Dewe Rogerson


Kevan Reilly




[email protected]

020 7282 1096



NOTES TO EDITORS

About Key Retirement Solutions

Founded in 1998 Key Retirement Solutions is the leading over 55's specialist adviser. Key Retirement Solutions is a limited company registered in England No 2457440 with its Head Office at Key Retirement Solutions, Baines House, Midgery Court, Pittman Way, Fulwood, Preston, PR2 9ZH. Key Retirement Solutions is authorised and regulated by the Financial Conduct Authority.

Phoenix Equity Partners (www.phoenix-equity.com)

Phoenix is an independent private equity fund management business. Phoenix is owned by its executive team. Phoenix's investment focus is on mid-market UK private businesses valued at up to £200 million.

Previous Phoenix transactions include:

  • Investment in The Gym, a leading operator of low cost gyms, in June 2013.

  • Investment in Global Navigation Solutions and three subsequent acquisitions which created a new maritime services group

  • Investment in Andrew Page, the leading UK distributor and wholesaler of automotive parts, based in Leeds.

  • Investment in Porthaven, which develops and operates purpose-built premium quality care homes for the elderly, in October 2011

  • Sale of ASCO, a leading international Oil and Gas logistics company, in December 2011 to Doughty Hanson


Cabot Square Capital

Founded in 1996, with circa £600 million under management, Cabot Square Capital is a leading provider of investment capital for small and mid-sized companies in the UK and Western Europe.

Cabot Square Capital is a specialist hands-on partner able to provide companies with capital for growth and acquisitions, innovative management ideas, creative problem solving and strategic, long-term planning.

Cabot Square Capital owned KRS via its second fund, CS Capital Partners II.  The Fund has had two prior exits, Lowell Group (debt purchase) and 5D/ Interbay (commercial mortgage lending).  The combined results from these three investments is a 2.9x return on invested capital and a 35.7% IRR.  CS Capital Partners II has four further investments, Compello (debt purchase), Signature Senior Living (elderly care), Medicx Group (asset management) and Medicx Pharmacy (health centre pharmacies).

CS Capital Partners III closed in 2006 and is currently invested in 10 companies in financial services, property, and infrastructure, including Perfect Home, Oakam, Centric, and EquitiX.

Cabot Square Capital is currently investing its fourth fund, CS Capital Partners IV, which closed in 2011.

Cabot Square Capital is a member of the BVCA and is regulated by the Financial Conduct Authority.