Carlyle sets to acquire Intelliflo from Invesco in a potential deal worth as much as $200 million
In a significant move for the wealthtech industry, investment firm Carlyle has agreed to purchase UK-based wealth management software provider intelliflo from Invesco for an initial purchase price of $135m. The total value of the acquisition could increase by up to $65m, subject to certain conditions and additional earn-out provisions.
Founded in 2004, intelliflo offers a comprehensive platform managing around £450bn in client assets. The platform caters to over 30,000 professionals across approximately 2,600 advisory firms, providing them with a suite of tools including customer relationship management, financial planning, client onboarding, compliance, and reporting features.
Intelliflo's US subsidiaries, including RedBlack—a provider of SaaS-based portfolio rebalancing tools—and intelliflo Portfolio—a portfolio management software solution for US Registered Investment Advisors—are also part of the acquisition deal. As a result, intelliflo's US operations will be restructured into a separate entity named RedBlack.
The investment for the acquisition will be provided by Carlyle through its CETP V fund, a €3bn fund focused on technology investments across Europe. Nick Eatock, intelliflo's CEO and founder, expressed his excitement about Carlyle's investment, stating it reflects their trust in the business and their expertise in scaling software companies.
Fernando Chueca, managing director in the CETP investment advisory team, shared Eatock's enthusiasm, expressing his eagerness to partner with intelliflo to unlock its full potential and deliver a new stage of growth. The deal is scheduled for completion in Q4 2025.
Intelliflo will continue to focus on the UK and Australian markets post-acquisition. The news of the acquisition has been met with optimism, with industry experts predicting a promising future for the combined entity. The acquisition marks a significant step forward for both intelliflo and Carlyle, as they embark on this new chapter together.
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