Investment firm Carlyle has reached an agreement to acquire intelliflo, a cloud-based practice management software designed for independent financial advisors in the UK, from Invesco in a deal valued at up to $200 million.
Carlyle will make an initial payment of $135 million to Invesco at closing, expected in the fourth quarter, with an additional $65 million possible through future earn-outs.
Founded in 2004 and based in London, intelliflo serves over 30,000 professionals across approximately 2,600 advisory firms, managing around £450 billion in client assets. The platform offers features such as CRM, financial planning, client onboarding, compliance workflows, and reporting, all built on a cloud-native, multi-tenanted SaaS architecture that integrates with over 120 third-party applications.
Carlyle aims to enhance intelliflo’s presence in the UK and accelerate its growth in Australia. Additionally, Invesco’s US-based subsidiaries will transition into a standalone business named RedBlack, managed by a separate team. Both intelliflo UK and RedBlack were part of five businesses consolidated by Invesco in 2021.
Nick Eatock, CEO of intelliflo, stated, “With Carlyle’s support, we will continue to focus on delivering great value to our clients, with a renewed emphasis on developing innovative solutions to meet the evolving needs of our core markets in the UK and Australia.”