TDR Capital sells Retirement Advantage via trade sale

The deal saw the GP fully exit the business after a four-year holding period, selling its stake to the UK-based subsidiary of listed corporate Great-West Lifeco.

Under the vendor's tenure, the business undertook an acquisitive growth strategy, bolting on Stonehaven in January 2014.

The transaction is expected to close in Q4 2017 and is subject to customary regulatory approvals. Further financial details surrounding the transaction remain undisclosed.

Previous funding
TDR Capital supported the spin-out of Retirement Advantage (then known as MGM Advantage) in March 2013, acquiring a majority stake in the business.

Company
Headquartered in London, Retirement Advantage was established in 2015 when TDR merged the retirement income and equity release divisions of MGM Advantage and Stonehaven. The company has 30,000 pension and equity release customers and more than £2bn of assets under management.

People
Great-West Lifeco – Paul Mahon (chair, CEO).
Canada Life Group – Doug Brown (CEO).
Retirement Advantage – Craig Fazzini-Jones (CEO).

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• Topics
• Exits
• Financials
• UK / Ireland
• Trade sale
• United Kingdom
• TDR Capital