Cabot Square Selling Stake in Key Retirement Solutions
June 25, 2013
Cabot Square Capital has agreed to sell its majority stake in Key Retirement Solutions to Phoenix Equity Partners for an enterprise value of £35 million ($54.04 million). The transaction represents a 5x return on invested capital for Cabot Square. Based in the U.K., Key Retirement offers financial services for people in or approaching retirement, including equity releases, pension annuities, will writing, lasting powers of attorney, and travel, home and life insurance. Cabot Square invested in the company in 2006, helping it transform from a pure play equity release loan broker into a provider with a broader range of financial services.