THE big Dorset employer LV= is set to be sold for £530million to an American private equity firm co-founded by former presidential candidate Mitt Romney. LV= says the sale of its savings, retirement and protection business to Bain Capital next year will mean “unrivalled” commitment to the company and its people. The chairman of the Personal Finance Society locally said he hoped the new owners would back an “amazing local business”. LV= had already sold its general insurance arm to Allianz, with the two businesses coexisting at its County Gates headquarters. Alan Cook, chairman of LV=, said: “As a newly standalone life and pensions business in an increasingly competitive market, the board recognised that LV= required significant long-term investment to be sustainable.