It's to be business as usual for Barbon Insurance Group's major private rental sector brands HomeLet, Letsure and Rentshield after a majority stake in the group was sold to asset management company The Carlyle Group.
Barbon's brands, and the HomeLet Rental Index, will remain as they are following the investment from Carlyle Global Financial Services Partners II, a fund that invests in management buyouts, growing businesses and financial companies.
Carlyle Group has a strong track record of investing in growth companies. Their in-depth knowledge of the insurance sector, built over many years, will significantly contribute to the continuing development of our business says Barbon chief executive Martin Totty.
With demand for private rental accommodation in the UK expected to continue to increase, we believe our future partnership is well placed to capitalise on the expected trend says Olivier Sarkozy, Carlyle Group's managing director.
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