RG Corporate Finance has advised the management team of Mobius Life in a transaction that has seen Phoenix Equity Partners acquire a majority stake in the company.
Pheonix has reached agreement with Souter Investments and Manfield Partners for the share in company, which is the leading independent provider of investment administration services to UK pension schemes, investing alongside the current management team, led by CEO Adrian Swales.
Equity for the transaction has come from Phoenix’s 2016 Fund. Terms of the transaction have not been disclosed.
Mobius Life provides investment administration services through a UK life insurance structure to UK defined and defined contribution pension schemes, which help them implement their investment strategies and meet their investment objectives.
Under Souter’s ownership during the last five years Mobius has grown assets under administration five-fold to circa £19 billion through its differentiated service offering and focused sales efforts.
The management team were advised by RG Corporate Finance partner Nick Johnson and Guy Green from George Green and Co. Nick worked closely with the management team providing independent advice during the transaction.
Nick Johnson said: “Providing the management team with independent advice during the transaction ensured they were able to achieve their strategic objectives whilst positively developing their relationship with Phoenix, which will be instrumental in delivering continued sustainable growth for the business.”
Carl Swansbury, Head of RG Corporate Finance, said: “Nick is highly experienced in providing management teams with expert advice, analysis and knowledge, which has been so valuable in this and other transactions supported by RG Corporate Finance such as the investment in specialist orthotics and prosthetics business, Blatchford, by CBPE. Advising on this significant transaction represents the increasing breadth of our services and the level of support we can provide our clients.”