Life settlement provider Maple Life Financial, Inc. to be acquired by investment firm and management
TORONTO, March 3 /CNW/ - Maple Financial Group, Inc. announced today that it has entered into a definitive agreement to sell its wholly-owned subsidiary, Maple Life Financial Inc., to investment funds managed by Reservoir Capital Group, LLC. The current Maple Life management team, including President and Chief Executive Officer, Nate Evans, will continue to lead the Company and remain significant equity holders in Maple Life. Further
terms of the transaction were not disclosed.
“This transaction represents a compelling opportunity to continue the growth of Maple Life” commented Nate Evans. “Over the last four years, we have established Maple Life as the most trusted, highest rated(*) life settlement provider and servicer, and we are excited about our prospects at this very exciting time in the life settlement industry. This transaction will allow us to offer even more innovative products and services to our existing client base of investment funds, our distribution partners and insureds.”
“With an experienced and talented management team, a base of strong investment fund clients and a robust distribution network, Maple Life is well positioned to take advantage of the attractive trends as a leader in the life settlement industry” said Craig Huff, President of Reservoir Capital Group. “We are excited to partner with Maple Life’s management team in this transaction.” The transaction will close upon receipt of regulatory approval.
Press Release
