Global buyout firm Advent International has bought pensions provider Xafinity, which was previously owned by Duke Street.
Being backed by Advent International gives Xafinity greater scope and financial muscle to achieve its next phase of growth. Following the successful acquisition and integration of Hazell Carr in 2008, Xafinity has a pipeline of further targets to build on its current market position.
Tim Robinson, chief executive of Xafinity, said: “We have significant ambitions for the development and expansion of Xafinity domestically and overseas.The sector expertise, funding and supportive approach that is the hallmark of Advent International will help us achieve these ambitions and accordingly make Xafinity an even stronger company.”
Advent International has around $24 billion in private equity capital and has been active in the financial sector for more than 20 years having invested in some 30 financial services companies worldwide.