The £208m acquisition of equity release specialist Key Retirement Group by Partners Group has been completed after regulatory approval was achieved.
Following the completion of the deal, which sees the group purchased from previous owners Phoenix Equity Partners, founder and chief executive Colin Taylor is retiring from his role at the company.
Simon Thompson, who has been serving as deputy chief executive, will step up to replace Taylor and will spearhead the planned expansion of distribution capacity, broadening the firms product portfolio and driving innovation.
Thompson says: “Colin’s drive and ambition have been crucial in making Key Retirement Group the success that it is and we wish him well on his well-deserved retirement.
“We are very pleased to finalise the deal with Partners Group and look forward to starting work with them as our new owner building on the significant growth achieved over the last few years with Phoenix who were outstanding partners.”